- Push-out Score determined
- After less than three years in the position
- Praise, thanks and good wishes for Rehnberg
- Tom Bradley taking over
(exechange) — Hamilton, Bermuda, June 23, 2022 — Kevin Rehnberg, chief executive of Argo, leaves. As announced by Argo Group International Holdings Ltd. in a news release and in a regulatory filing published on Thursday, June 23, 2022, Kevin J. Rehnberg, chief executive officer, leaves the underwriter of specialty insurance products, after less than three years in the role.
Kevin Rehnberg’s duties as CEO will be taken over by Thomas A. (Tom) Bradley, most recently chairman at Argo Group International Holdings Ltd.
Argo did not give an explicit reason for Kevin Rehnberg’s departure. Argo said: “Kevin J. Rehnberg, who has been out on leave for health reasons since March 2022, will no longer serve as president or CEO and will resign from the company’s board of directors, effective immediately.”
Precise information regarding Kevin Rehnberg’s future plans was not immediately available.
“Resign”
Argo said: “Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or “the company”), an underwriter of specialty insurance products, today announced the appointment of Thomas A. Bradley, who has served as Argo’s chairman since 2020, and who has been serving as interim chief executive officer (“CEO”) since March 2022, as CEO, effective immediately. Bradley will also continue in his role as executive chairman of the board of directors.”
Argo further said: “Kevin J. Rehnberg, who has been out on leave for health reasons since March 2022, will no longer serve as president or CEO and will resign from the company’s board of directors, effective immediately.”
On March 7, 2022, Argo had stated in a regulatory filing: “On March 2, 2022, Argo Group International Holdings, Ltd. (“Argo Group” or “our”) was notified that Kevin J. Rehnberg, its Chief Executive Officer, would be temporarily unable to perform his duties for health reasons. Effective March 3, 2022, Thomas A. Bradley, who has served on our Board of Directors since 2018, including as Chairman since 2020, assumed Mr. Rehnberg’s authority, duties and responsibilities as Chief Executive Officer during this period.”
Share price decline since January 2020
The announcement follows a decline in Argo Group International Holdings Ltd.’s share price of 43% since January 2020.
In the position of CEO since 2019
Kevin Rehnberg became CEO of the Company in 2019.
His bio reads as follows:
- President and Chief Executive Officer of the Company since February 2020; Interim President and Chief Executive Officer of the Company from November 2019 until February 2020.
- Prior thereto, Rehnberg was President of the Americas and Chief Administrative Officer of the Company since January 2019.
- From March 2013 to January 2019, served President of Argo Group’s U.S. Operations.
- Prior to joining the Company, Rehnberg served as executive vice president for specialty lines at OneBeacon Insurance where he oversaw specialty business.
- Began his career at Chubb in 1986 and held a number of roles with increasing responsibility at Chubb Atlantic, Liberty, St. Paul and St. Paul Travelers through 2005.
- Holds a bachelor’s degree in History from Princeton University.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Kevin Rehnberg’s move on a scale of 0 to 10.
exechange reached out to Argo and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 26.2022 ($).