The Allstate Corporation has announced a restructuring of its senior leadership team, appointing Mario Rizzo as its new Chief Operating Officer. In his new role, Rizzo will oversee the company’s Property-Liability and Protection Services businesses.
A 33-year veteran of the company, Rizzo was most recently President of Property-Liability. His previous senior positions include Executive Vice President and Chief Financial Officer of The Allstate Corporation and Allstate Insurance Company, as well as Treasurer and Vice President of Allstate Protection Finance.
Succeeding Rizzo is Jess Merten, who has been named the next President of Property-Liability and will report to the new COO. Merten, who previously served as Chief Financial Officer, joined Allstate in 2012. He has also held the role of Chief Risk Officer, where he was responsible for all corporate risk and return activities.
While an external search for a permanent replacement is underway, John Dugenske will serve as Interim Chief Financial Officer. He will take on this responsibility in addition to his current role as President of Investments and Corporate Strategy. Dugenske joined Allstate in 2017 as Chief Investment Officer and previously held senior positions at UBS Asset Management and Neuberger Berman.
Tom Wilson, Chair, President, and CEO of The Allstate Corporation, said the leadership changes are the next step in the company’s “Transformative Growth” initiative.
“These leadership changes are the next logical step to complete our Transformative Growth initiative and enable us to leverage artificial intelligence to better serve customers, earn returns for shareholders and create opportunity for employees,” Wilson stated.
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