RONALD E. COMPTON TO SUCCEED JAMES T. LYNN AS CHAIRMAN & CEO OF AETNA LIFE & CASUALTY
RONALD E. COMPTON TO SUCCEED JAMES T. LYNN
AS CHAIRMAN & CEO OF AETNA LIFE & CASUALTY
HARTFORD, Conn., Nov. 22 /PRNewswire/ -- Aetna Life & Casualty (NYSE: AET) today announced that its president, Ronald E. Compton, 58, will succeed James T. Lynn, as chairman and chief executive officer, effective on Lynn's normal retirement date of March 1, 1992, at age 65. Compton also will retain the title of president.
Lynn praised Compton's election by Aetna's board of directors, saying: "Ron Compton has been a true partner ever since we began working together closely more than four years ago. He has played a pivotal role in setting direction for the company, in defining and focusing Aetna's business objectives, and in building a strong managment team. Ron's vision, management expertise, commitment and energy have been critical to positioning Aetna for success in the future."
Compton joined Aetna as a property casualty underwriter after graduating from Northwestern University in 1954 with a bachelor's degree in philosophy. He assumed increasingly responsible jobs in the underwriting area and was appointed assistant vice president in 1972 and general manager in Aetna's Pitttsburgh and Philadelphia offices in 1975 and 1979, respectively.
In 1980, Compton joined American Re-Insurance. He was promoted to executive vice president in 1982 and was named president a year later. He returned to Aetna in March 1987 as senior vice president and executive assistant to the Office of the Chairman and joined the Office of the Chairman as executive vice president in November 1987. Compton was appointed president and a director of Aetna on July 1, 1988.
Aetna Life & Casualty is the nation's largest shareholder owned insurance and financial services organization, with assets of more than $91 billion.
/CONTACT: John C. Hawkins of Aetna, 203-273-0283 (office), or 203-233-7622 (home)/
(AET) CO: Aetna Life & Casualty ST: Connecticut IN: INS SU: PER DD-SD -- NE005 -- 6343 11/22/91 11:34 EST