Hartford Financial Services Group Inc. CEO Christopher J. Swift has been elected chairman of the board, Hartford announced.
Mr. Swift succeeds Liam E. McGee, who stepped down as Hartford's CEO last July and who resigned from the board Monday. Mr. McGee had announced his intention to step down as chairman last year.
“Over the past six months, the Hartford has executed a seamless and highly successful leadership transition,” Thomas A. Renyi, independent presiding director for Hartford, said in a statement issued Monday. “The company has made tremendous progress advancing its strategy and we look forward to Chris' leadership as both CEO and chairman. … On behalf of the board of directors and everyone at the Hartford, I would like to thank Liam for his leadership and turnaround of this iconic insurer.”
Mr. Swift joined Hartford in 2010 as executive vice president and chief financial officer. Before joining Hartford, he held various senior leadership and finance roles at American International Group Inc.
The Hartford Financial Services Group Inc. on Wednesday reported a net loss of $467 million for the second quarter of 2014 compared with a net loss of $190 million in the second quarter last year.