Root, Inc. has announced the promotion of two senior leaders and the addition of a Business Development leader.
Megan Binkley, formerly interim Chief Financial Officer (CFO), has been named CFO, while Jon Allison, formerly Root’s General Counsel, has been named Chief Administrative Officer.
Binkley, who joined Root in 2019 as Chief Accounting Officer, has been promoted to Deputy CFO in 2022 and led all operational elements within the finance organization through the company’s significant improvement in profitability.
As Chief Financial Officer, Binkley will continue to oversee finance, accounting, treasury, tax, financial reporting, corporate development, reinsurance and reserving, and investor relations.
Allison, who joined Root in 2017, will continue to oversee Root’s legal department but will also lead the Human Resources organization, as well as the Claims and Customer Service organizations.
Prior to joining Root, Allison served as Chief of Staff to Ohio Governor Bob Taft and managed the state’s largest business regulatory agency.
“We are thrilled to be promoting these two outstanding leaders,” said Alex Timm, Co-Founder & CEO. “Both have been instrumental in repositioning Root over the last year, showing strong resilience and the ability to navigate challenging times and come out positioned for success.”
In addition to the two promotions, Root has added Jason Shapiro as Senior Vice President of Business Development.
Shapiro brings more than 20 years of leadership and automotive experience, having previously served as President of ForeverCar, Vice President of OEM Development at TrueCar, and Senior Director of Enterprise Dealer Partnerships at Cox Automotive. Shapiro will spearhead the expansion of Root’s embedded platform and focus on growth initiatives.
“As a seasoned operator in building and scaling business development functions to drive substantial revenues, we look forward to Jason leading the expansion of our embedded offering,” said Timm.
Shapiro expressed excitement about joining Root, stating, “I’m excited to join the team at Root to leverage their best-in-class technology to deliver a modern customer experience for shopping, purchasing, and servicing auto insurance.”
