The breadth of Allstate's leadership ensures strategic and operational continuity

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Glenn Shapiro, who has led the Property-Liability businesses since 2018, has decided to retire. Mario Rizzo, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn. Jess Merten will assume the chief financial officer role.

Allstate's commitment to purpose-driven leadership complements the company's ongoing focus on improving auto insurance margins while implementing its Transformative Growth strategy. Glenn Shapiro, who has successfully led the Property-Liability businesses since 2018, has decided to retire. He was instrumental in launching Transformative Growth and quickly adapting to the effects of inflation on auto insurance margins.

Mario Rizzo, the current Chief Financial Officer, has been an integral part of these accomplishments and will succeed Glenn as President, Property-Liability. Jess Merten will take over as Chief Financial Officer, drawing on his decade of financial and operational experience at Allstate.

"Allstate's leadership team is focused on building a purpose-driven company that serves customers, employees, shareholders, and communities,"

said Tom Wilson, Chair, President, and CEO of The Allstate Corporation.

"Glenn is an exceptional leader who has expanded property-liability distribution, significantly reduced costs in order to provide more value to customers, and advanced our digital transformation." Mario's leadership skills and breadth of experience gained during his 33 years at Allstate will ensure that this momentum continues. "Jess is uniquely qualified to be the Chief Financial Officer, having excelled in a variety of financial roles, most recently leading Allstate Financial and the divestiture of the life and annuity businesses,"

Wilson concluded.

Summary of leadership transitions:

Glenn Shapiro, President, Property-Liability, has announced his intention to retire on September 30. He joined Allstate in 2016 as Chief Claims Officer and has been in his current position since 2018. Mario Rizzo was appointed Chief Financial Officer in 2018 and has excelled in a variety of roles since joining Allstate 33 years ago. On September 1, he will take over as President, Property-Liability. Jess Merten joined Allstate Financial in 2012 as Chief Financial Officer, and has since held the positions of Treasurer, Chief Risk Officer, and President, Allstate Financial. Jess will join The Allstate Corporation as Chief Financial Officer on September 1.

The Allstate Corporation (NYSE: ALL) is one of the largest publicly traded personal lines property and casualty insurers in the United States, with over 190 million policies in force and $50.6 billion in revenue in 2021. Allstate protects people from life's uncertainties through a circle of protection that includes car insurance, home insurance, electronic device insurance, benefits, and identity theft protection. Products are available through a diverse distribution network that includes Allstate agents, independent agents, major retailers, online, and at work. The slogan "You're in Good Hands with Allstate" is well-known.

Source: Allstate newsroom


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