LONDON, UK —Stuart Parker, president and chief executive officer-elect of USAA, an insurance and financial services provider to current and former members of the U.S. military and their families, has been elected to the board of directors of FM Global, one of the world’s largest commercial and industrial property insurers. FM Global’s board comprises executives from the world’s most sophisticated manufacturing, distribution and service organisations.
Established in 1835, FM Global is a mutual insurance company whose capital, scientific research capability and engineering expertise are solely dedicated to property risk management and the resilience of its client-owners. These owners, who share the belief that the majority of property loss is preventable, include one of every three FORTUNE 500 companies and similar size organisations worldwide.
“Stuart Parker brings strong expertise in financial, strategic and operational planning to our board,” said Shivan S. Subramaniam, chairman and chief executive officer. “As a mutual company, owned and directed by its policyholders, his deep background in insurance and leading a diversified financial services group of companies with a similar governance structure to FM Global makes him an ideal fit for our board.”
Parker joined USAA in 1998 and rose through the ranks to successfully lead the development of USAA’s Financial Planning Services organisation. From 2007 to 2012, Parker led USAA’s Property and Casualty Insurance Group and served as USAA’s chief financial officer from 2012 to 2014. This past May, Parker became chief operating officer and, soon after, was named CEO-elect. He will become CEO when current CEO Joe Robles retires at the end of February 2015.
Other members of FM Global’s board of directors include:
- Shivan S. Subramaniam, chairman and chief executive officer, FM Global
- Frank T. Connor, executive vice president and chief financial officer, Textron Inc.
- Colin Day, chief executive, Essentra plc
- Walter J. Galvin, retired vice chairman, Emerson Electric Co.
- John A. Luke Jr., chairman and chief executive officer, MeadWestvaco Corporation
- Jonathan D. Mariner, executive vice president, finance and chief financial officer, Major League Baseball
- Thomas A. Lawson, president, FM Global
- Gracia C. Martore, president and chief executive officer, Gannett Co., Inc.
- Christine M. McCarthy, executive vice president, corporate real estate, alliances and treasurer, The Walt Disney Company
- John R. Paolian, retired chief operating officer, RR Donnelley
- David Pulman, former president of global manufacturing and supply, GlaxoSmithKline
- Edward J. Rapp, group president, construction industries, Caterpillar, Inc.
- James C. Thyen, president and chief executive officer, Kimball International, Inc.
- Alfred J. Verrecchia, chairman of the board, Hasbro, Inc.
About FM Global
For nearly two centuries, many of the world’s largest organisations have turned to FM Global (www.fmglobal.co.uk) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. With clients in more than 130 countries, FM Global has been named “Best Property Insurer in the World” by Euromoney magazine, “Best Global Property Insurer” by Global Finance magazine and received the prestigious Queen’s Award for Enterprise, as well as the 2013 CIR Risk Management Insurance Partnership of the Year Award. In the United Kingdom, FM Global is the communicative name for FM Insurance Company Limited, which celebrated its 50thanniversary of international operation in 2013.