AUSTIN, Texas, April 6 /PRNewswire/ -- Ron Wright, chief operating officer of Texas Mutual Insurance Company since 1997, will become president and CEO of the company effective Sept. 1, 2009, Texas Mutual announced April 6.
Wright will succeed Russell R. Oliver, who announced his retirement in February. Oliver has worked at Texas Mutual since 1994; he was named president and CEO the following year.
Bob Barnes, chairman of the Texas Mutual Board of Directors, said: "Ron Wright's promotion to the role of president and CEO provides Texas Mutual with great continuity and stability. Ron knows the company and its history well, and he has brought great experience and expertise to the position of chief operating officer, as he will do in his new role as president and CEO. We are looking forward to a very smooth leadership transition."
Two years ago, Texas Mutual launched the Executive Management Succession Planning Project to prepare for the eventual retirement of Oliver. Wright's move to the role of president and CEO was approved by the Board of Directors.
Wright said: "I am inheriting from Russ the leadership of a company that is financially strong and is run by a strong team of people. I am privileged to have the opportunity to continue Russ' legacy of success at Texas Mutual and to build on the foundation established under Russ' leadership."
Wright has had a distinguished career in the insurance industry. Before joining Texas Mutual in 1997, Wright was senior vice president of workers' compensation for Travelers Aetna Property and Casualty Corporation.
About Texas Mutual Insurance Company
Austin-based Texas Mutual Insurance Company is the state's leading provider of workers' compensation insurance, with approximately 25 percent of the market. Since 1991, the company has provided a stable, competitively priced source of workers' comp insurance for all Texas employers. Preventing workplace accidents and minimizing their consequences is a major part of Texas Mutual's mission.
For more information, visit www.texasmutual.com.
Elizabeth Christian & Associates Public Relations
SOURCE Texas Mutual Insurance Company