Selective Insurance In Search of new CFO after Mark Wilcox Departure for another firm

Selective Insurance Group, Inc. (Nasdaq: SIGI) announced that Mark Wilcox, who serves as Executive Vice President and Chief Financial Officer, will be resigning from Selective effective November 3, 2023, to assume the position of CFO at another financial services firm. Mr. Wilcox will continue to fulfill his current responsibilities until after Selective reports its third-quarter earnings for 2023.

Anthony Harnett, who currently holds the position of Senior Vice President and Chief Accounting Officer, will take on the role of Interim CFO until a permanent successor is identified. Selective has initiated a global search process to identify its new CFO.

Mr. Harnett currently holds the position of Senior Vice President and Chief Accounting Officer at Selective Insurance. He joined the Company in 1999 as a Senior Accountant and held various finance positions before being promoted to Vice President, Controller in 2008 and Senior Vice President, Corporate Controller in 2010. He possesses extensive experience in auditing, financial analysis and reporting, and risk management. Mr. Harnett also has prior financial roles at Toys “R” Us and Deloitte. He earned a bachelor’s degree in Accounting from Albright College in Pennsylvania and is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants.

John Marchioni, Chairman, President, and Chief Executive Officer of Selective, expressed his appreciation for Mark Wilcox’s contributions, saying, “Mark has been my trusted partner and an excellent leader of our Finance team for nearly seven years. On behalf of the Board of Directors and our entire team, I thank Mark for his many contributions. Throughout his time with Selective, we have continued to deliver consecutive double-digit non-GAAP operating returns on equity. We are pleased that he will assist us in a seamless transition and wish him well in his future endeavors.”

Mr. Marchioni also shared his confidence in Anthony Harnett’s skills, stating, “We are fortunate to have someone of Tony’s caliber step into the Interim CFO role. Tony is a seasoned executive with nearly 30 years of finance and accounting experience. Having served as Selective’s Chief Accounting Officer since 2016, he has extensive knowledge of the Company and our financials. We are confident that Tony, with the support of our strong Finance team, is well equipped to support the continued execution of our financial priorities while we search for a permanent CFO.

Mr. Wilcox also shared his thoughts, stating, “It has been an honor to be a part of Selective and work alongside John and such a talented team. With its strong financial profile and flexibility, I am confident that Selective is well-positioned to continue delivering profitable growth over the long term. I look forward to watching its continued success.”

Selective will announce its third-quarter 2023 earnings on Wednesday, November 1, 2023, after the close of the market, and has scheduled a conference call to discuss the results on Thursday, November 2, 2023, at 11:00 AM ET.

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