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| | Jay Fishman, CEO of The Travelers, Reveals He Has ALS As He Praises His Successor
By Lonce LaMon - August 5, 2015
Jay S. Fishman, the Chairman and CEO of The Travelers Companies, Inc., sent a humble and heartfelt personal letter addressed to his “partners and friends”, which The Travelers sent out as a News Release yesterday, announcing that Alan Schnitzer will soon succeed him as Chief Executive Officer later this year. Schnitzer is the current CEO of Travelers’ business and international insurance section.
Fishman expressed, “Given the progression of the symptoms I have been experiencing since informing all of you of my illness, it appears likely that I am dealing with a variant of Amyotrophic Lateral Sclerosis, or ALS. While this is a progressive disease, anyone who has seen me can tell you that I am more than able to play an active role in Travelers’ future.”
On December 1st 2015, Fishman will assume the management role of Executive Chairman and remain on the Board. At the same time, Alan Schnitzer will step up as CEO of The Travelers Companies, Inc.
Fishman praised Alan Schnitzer as “a leader of extraordinary talent, judgment, versatility and heart.” He expressed how pleased he was to announce Alan Schnitzer as his successor and stated it was important for him to let all know “that I get way too much personal credit for the success we have experienced together.” He said The Travelers is a big place and that the sense of partnership is “just remarkable”. He went on with “the credit for our success is to be shared by everyone here. I am incredibly blessed to have been in the right place at the right time.”
Jay Fishman joined The Travelers as Chief Financial Officer in 1993 at the time it was acquired by Primerica Corp., which later became part of Citigroup. He was named President and Chief Executive Officer of Travelers in 1998 and Chairman in 2000. In October 2001, he became Chairman, President and Chief Executive Officer of The St. Paul Companies. When The St. Paul Companies and Travelers Property Casualty Corp merged in 2004, he became Chief Executive Officer of the combined company. He assumed the additional role of Chairman in 2005.
Fishman was educated at the University of Pennsylvania where he earned a Bachelor’s degree in economics. He received a Master’s degree in accounting from the Wharton School. He is today a trustee of the University of Pennsylvania.
lonce@adjustercom.com, Lonce LaMon, journalist; copyright Lonce LaMon and adjustercom; all rights reserved
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