- After about seven years on the job
- Tim Walsh taking over
(exechange) — Galveston, Texas, August 24, 2017 — John Dunn, finance chief of American National Insurance, leaves. It is an abrupt change. As announced by American National Insurance Company in a regulatory filing published on Thursday, August 24, 2017, John J. Dunn, Chief Financial Officer, has already left the life insurance company in a surprising move after about seven years on the job, effective August 21, 2017.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CFOs who departed over the past twelve months was 5.6 years, according to data compiled by exechange.
Dunn’s move comes 19 months after James E. Pozzi took over as chairman of American National Insurance Company.
Dunn’s duties are taken over by Tim Walsh, most recently Executive Vice President, Multiple Line and Property and Casualty Operations at American National Insurance Company.
No reason given
In the announcement, American National Insurance did not explicitly explain the obviously compelling reason for Dunn’s sudden move, leaving room for speculation.
Precise information about the future plans of Dunn was not immediately available.
Generally speaking, it is often a wake-up call for shareholders when a CFO leaves the post abruptly and without a reasonable explanation.
“Is no longer with American National Insurance Company”
American National Insurance said: “Effective August 21, 2017, John J. Dunn, Jr., Executive Vice President, Chief Financial Officer and Treasurer, is no longer with American National Insurance Company.”
Chaired by James E. Pozzi
American National Insurance Company is chaired by James E. Pozzi.
James E. Pozzi was first elected to the Company’s Board in 2012. He has served as President and Chief Executive Officer since May 2015 and as Chairman of the Board since February 2016.
On the job as CFO since 2010
John J. Dunn, Jr., served as an Executive Vice President and Chief Financial Officer at American National Insurance Co. since July 2010.
Read the full story in the exechange report 35.2017 ($).