:: rawblogXport ::

:: Thursday, May 08, 2003 ::

Ullico Picks New Chairman In Management Shake-Up (washingtonpost.com) Terence M. O'Sullivan, president of the Laborers International Union, will be joined by a slate by 15 newly elected directors, who will constitute a new majority. He replaces Robert A. Georgine, who quit after a controversy developed over millions of dollars in profit he and other officers and directors made on shares of Global Crossing stock.

(BW)(DC-ULLICO) Robert Georgine Resigns All ULLICO Posts May 8, 2003--Robert Georgine, longtime Chairman, President and Chief Executive Officer of ULLICO, announced today he was severing all official ties to the firm.
Georgine, who previously announced he was not standing for re-election to ULLICO's Board of Directors, took the further step of relinquishing his other titles and responsibilities in conjunction with the firm's annual meeting of shareholders today.
"The change in control of the Board, which I recognized last month, is but one important step in helping to ensure that ULLICO is united and focused on serving the unions and union members to whom it is dedicated," Georgine told a Board meeting ahead of the shareholder session. "What matters to me most is that ULLICO survive and prosper, providing essential insurance, asset management, and other services to workers and their unions."

posted 12:44 PM :: reference link :: 0 comments ::

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