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Directors elected and board committees assigned
CINCINNATI, May 7 /PRNewswire-FirstCall/ -- Cincinnati Financial Corporation (Nasdaq: CINF) today announced that at the company's annual meeting on May 5, 2007, shareholders elected three directors to the 13 member board for terms to expire in 2010. Shareholders also ratified the selection of Deloitte & Touche LLP as independent registered public accounting firm.
Chairman and Chief Executive Officer John J. Schiff, Jr., CPCU, commented: "We thank shareholders for approving our selection of Deloitte & Touche and our nominees to the board. The directors elected Saturday, as well as our continuing directors, are exemplary business leaders and citizens we are privileged to have on our board."
Elected to the board were Gregory T. Bier, CPA (Ret.), former managing partner of the Cincinnati office of Deloitte & Touche; Dirk J. Debbink, president of MSI General Corporation and rear admiral, reserve deputy commander and chief of staff, U.S. Pacific Fleet, U.S. Navy Reserve; and Douglas S. Skidmore, chief executive officer, president and director of Skidmore Sales & Distributing Company.
The board also announced committee service for the coming year, in line with the independence requirements of applicable law and the listing standards of Nasdaq:
-- Audit - William F. Bahl, Gregory T. Bier, Dirk J. Debbink, Kenneth C. Lichtendahl (chair), Gretchen W. Price, Douglas S. Skidmore and John F. Steele, Jr.
-- Compensation - Kenneth C. Lichtendahl, W. Rodney McMullen (chair), Gretchen W. Price and E. Anthony Woods. Lawrence H. Rogers II, adviser to this committee since 1992, has retired from this position.
-- Executive - William F. Bahl, James E. Benoski, Dirk J. Debbink, Rodney McMullen, John J. Schiff, Jr. (chair), Larry R. Webb and E. Anthony Woods.
-- Investment - William F. Bahl, Gregory T. Bier, James E. Benoski, W. Rodney McMullen, John J. Schiff, Jr. (chair), Thomas R. Schiff and E. Anthony Woods. Richard M. Burridge, CFA, continues to serve as committee adviser.
-- Nominating - William F. Bahl (chair), Kenneth C. Lichtendahl, Gretchen W. Price and Douglas S. Skidmore.
Schiff noted, "The shareholders of Cincinnati Financial benefit from our directors' active service to our company through their committee assignments and through their dedication to understanding our insurance business, its challenges and opportunities."
Schiff added that the board named retiring directors Michael Brown and John M. Shepherd as directors emeriti, recognizing their outstanding long-term contributions to the company.
Cincinnati Financial Corporation offers property and casualty insurance, our main business, through The Cincinnati Insurance Company, The Cincinnati Indemnity Company and The Cincinnati Casualty Company. The Cincinnati Life Insurance Company markets life and disability income insurance and annuities. CFC Investment Company offers commercial leasing and financing services. CinFin Capital Management Company provides asset management services to institutions, corporations and individuals. For additional information about the company, please visit www.cinfin.com.
SOURCE Cincinnati Financial Corporation
CONTACT: Investors, Heather J. Wietzel, +1-513-870-2768, or
Media, Joan O. Shevchik, +1-513-603-5323/
Web site: http://www.cinfin.com/
(CINF)