Commonwealth Automobile Reinsurers has appointed its Vice President for Financial Services, Natalie Hubley, as Acting President pending a search for a permanent president.
Mr. Judson tendered his 30-day notice of resignation as President of CAR on April 8, 2015, to the Governing Committee.
Governing Committee waives 30-day notice for Mr. Judson to become Commissioner of Insurance
At its meeting of April 15, 2015, the Governing Committee considered and approved, at Mr. Judson’s request, a waiver of the 30-day notice of resignation requirement contained in his Offer of Employment as CAR’s President. The Committee voted to reduce the notice requirement to two weeks, or until April 22nd.
The waiver would allow Mr. Judson, as has been reported in the media but has not been officially announced by the Governor, to assume the position of the Commissioner of Insurance vacated by Joseph Murphy in December 2014.
After approving Mr. Judson’s waiver, the Governing Committee scheduled a meeting for April 22 of the Personnel Committee at 10:30 AM, to be followed by a Governing Committee meeting at 11:30 AM.
The Personnel Committee met, on April 22, “to discuss transition issues arising from the resignation of CAR’s President, including the appointment of an acting President…and the search for and evaluation of successor candidates.”
CAR Vice President appointed Acting President
Upon the recommendation of the Personnel Committee, the Governing Committee appointed Natalie Hubley as acting president.
A longtime employee of CAR, Ms. Hubley presently holds the position of Vice President for Financial Services and Treasurer. Over the course of more than 20 years at CAR she has previously held the position of Financial Manager and Senior Manager of Actuarial/Statistical Services.
Public search for new president to commence
The Governing Committee also voted to retain an executive search firm to conduct a search for a full-time president. The timetable for the completion of the search and the selection of a permanent president is estimated to be approximately 90 to 120 days. The executive search firm that will conduct the hunt for a new president is expected to be Horton International of West Hartford, Connecticut. This executive recruiting firm previously represented CAR in the candidate review and selection process for the hiring of Mr. Judson in 2011 when CAR’s then president Ralph “Buddy” Iannaco retired.
Based on this prior search, CAR will likely publish notices of its Request for Candidates in the coming weeks.