Consistent with the retirement policy of The Progressive Corporation set forth in the Progressive Corp. Corporate Governance Guidelines, on May 13, 2016, Mr. Stephen R. Hardis, the Lead Independent Director of the company's Board of Directors, retired from the company's board after 28 years of service as a director. On May 13, 2016, the independent members of the Board of Directors appointed Ms. Lawton W. Fitt as Lead Independent Director.

On May 12, 2016, the company announced that Glenn M. Renwick, the company's President and Chief Executive Officer, will retire from these positions effective July 1, 2016. Mr. Renwick will continue as the Company's Executive Chairman of the Board. The company also announced that Susan Patricia (Tricia) Griffith, the company's Personal Lines Chief Operating Officer since April 2015, will succeed Mr. Renwick as President and CEO as of the Effective Date.

At that time, Mrs. Griffith is expected to become a director of the company and to be appointed to the Executive Committee of the Board.