Global data analytics provider Verisk has announced the appointments of Lee M. Shavel as CEO and Mark V. Anquillare as President, following its annual shareholders meeting.
Shavel was also elected to the Verisk Board of Directors, and three new independent directors nominated by the company, were elected to the Verisk’s Board of Directors.
These are: Jeffrey Dailey, an industry veteran who currently serves as CEO of Farmers Group, Inc.; Wendy Lane, a member of the WTW Board and a former director at MSCI and Corelogic; and Kimberly S. Stevenson, a senior operating executive with expertise in tech, finance and digital innovation.
The leadership changes come after Verisk was pressured into responding to activist investor demands last month by repositioning itself as a pure-play insurance focused business, and by making changes to its corporate governance.
“Verisk has a profound opportunity to help the insurance industry evolve in a new digital environment, integrate and activate rapidly growing data sets and achieve new levels of efficiency. With our industry knowledge, technical expertise and established client relationships, we are uniquely positioned to address their needs as an essential technology partner,” said Shavel.
“I’m humbled to assume the role of Verisk CEO, and I will be focused on value creation for our customers, colleagues and shareholders. This is a great responsibility and one I truly cherish.”
Most recently, Shavel served as CFO and group president for Verisk, while Anquillare served as COO and group president.
“With a sharpened focus on serving the insurance industry, we’ve optimized our path toward continued growth and enhanced value creation,” added Anquillare. “At such a pivotal moment for the industry, Verisk is poised to empower new opportunities for our customers and colleagues around the globe.”
Verisk stated that Shavel’s replacement as CFO will be named at a later date.
