Ohio-based insurer Nationwide has appointed Tim Frommeyer as Chief Financial Officer (CFO) and also added him to the Nationwide executive leadership team.
Frommeyer joined Nationwide 1986 and has held multiple senior positions including chief actuary for financial services, CFO for that organisation, and most recently as CFO for both financial services and property & casualty under Thresher.
He will succeed Mark Thresher, who will be retiring in September, after being at the company for 25 years.
In addition to overseeing the Fortune 100 company’s financial operations, Thresher also currently leads Nationwide’s investment operations and oversees Nationwide Realty Investors.
He recently announced his retirement as chairman of the Otterbein University board of trustees after 21 years of board service, eight as chairman.
Thresher started his Nationwide career in 1996 following nearly 20 years at KPMG, where he was responsible for the Nationwide account.
During his career he helped establish and broaden Nationwide’s financial services footprint, helping to take Nationwide Financial public in 1997 as its vice president of finance and treasurer. He then became president of NF in 2004.
As CFO, Thresher has emphasised building and maintaining Nationwide’s capital strength, with the company consistently earning A+ ratings from A.M. Best and Standard & Poor’s.
Nationwide CEO Kirt Walker commented: “Mark leaves an incredible legacy of strategic and people-centred leadership at Nationwide.
“His focus on growth and profitability, along with being a champion for professional development, diversity and inclusion, and community service, has impacted associates and community members alike throughout his 40-plus years in the industry.
“Nationwide has tremendous talent and bench strength that contribute to our strong succession planning efforts. This thorough planning will enable a smooth transition for our businesses and associates.”