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MarketScreener Homepage  >  Equities  >  Nyse  >  The Travelers Companies    TRV

THE TRAVELERS COMPANIES

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Travelers Cos Inc : Travelers Names Alan D. Schnitzer as Vice Chairman

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04/03/2007 | 08:30am EDT

The Travelers Companies, Inc. ("Travelers,")(NYSE:TRV) today announced that Alan D. Schnitzer will join the company in the newly created position of vice chairman and chief legal officer, effective April 23, 2007. Mr. Schnitzer will oversee the company's legal function and public policy and government affairs function. In addition, he will work closely with other members of the company's senior leadership team on a wide range of business and strategic matters and serve on the company's Management Committee. He will report to Chairman and Chief Executive Officer Jay S. Fishman.

Mr. Schnitzer, who has served as Travelers' lead outside counsel for a number of years, joins the company from the law firm of Simpson Thacher & Bartlett LLP, where he is a partner advising corporate clients on a variety of transactions and general corporate law matters. He joined Simpson Thacher in 1991.

Kenneth F. Spence III, Travelers' executive vice president and general counsel since 2004, will continue in that role, reporting to Mr. Schnitzer.

Mr. Fishman said, ?We are delighted to have attracted Alan to our management team. Having worked closely with him for many years, we have first-hand knowledge of Alan's exceptional judgment, talent and insight. He knows our company well and brings great energy that will be invaluable to us.

?Ken Spence has done a terrific job as our general counsel, and we look forward to his continued contributions in that important position.?

Mr. Schnitzer said, ?I am pleased to join such an exceptional management team in a world-class organization. I am grateful to my partners at Simpson Thacher for their support and tremendously proud to have been part of the firm for the past fifteen years. I look forward to continuing a close relationship.?

Mr. Schnitzer, 41, is a member of the Board of Directors of The Legal Aid Society, the nation's oldest and largest provider of legal services to the indigent. He received his undergraduate degree from The Wharton School of the University of Pennsylvania, magna cum laude, and earned his J.D. from Columbia Law School, where he was a Harlan Fiske Stone Scholar.

About Travelers

Travelers is a leading property casualty insurer selling primarily through independent agents and brokers. The company's diverse business lines offer its global customers a wide range of coverage in both the personal and commercial settings, including automobile, homeowners, construction, small business, oil and gas, ocean marine, financial and professional services, global technology and public sector services.

Travelers is a Fortune 100 company, with 2006 revenues of $25.09 billion and total assets of $113.76 billion. The company has approximately 33,000 employees. For more information, visit www.travelers.com.


© Business Wire 2007
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Financials ($)
Sales 2019 28 816 M
EBIT 2019 3 869 M
Net income 2019 2 958 M
Debt 2019 -
Yield 2019 2,34%
P/E ratio 2019 12,11
P/E ratio 2020 11,55
Capi. / Sales 2019 1,25x
Capi. / Sales 2020 1,21x
Capitalization 36 146 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 144 $
Spread / Average Target 4,2%
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Managers
NameTitle
Alan D. Schnitzer Chairman & Chief Executive Officer
Daniel S. Frey Chief Financial Officer & Senior Vice President
Mojgan Lefebvre Chief Information Officer & Executive VP
William Herbert Heyman Vice Chairman & Chief Investment Officer
Kenneth M. Duberstein Independent Director
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