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CINCINNATI, May 4 /PRNewswire-FirstCall/ -- Cincinnati Financial
Corporation (Nasdaq: CINF) today announced that at the company's annual
meeting on May 2, 2009, shareholders elected one director for a term of one
year and five directors for terms of three years to the 13-member board.
Shareholders also ratified the selection of Deloitte & Touche LLP as
independent registered public accounting firm, adopted the Cincinnati
Financial Corporation Annual Incentive Compensation Plan of 2009 and the
Cincinnati Financial Corporation Directors' Stock Plan of 2009, and approved a
proposal to take steps to declassify the board.
Chairman John J. Schiff, Jr., CPCU, commented: "We thank shareholders for
approving our selection of Deloitte & Touche and our nominees to the board.
The directors who were elected Saturday, as well as our continuing directors,
combine their experiences from differing business backgrounds to execute
long-term strategic plans for Cincinnati Financial Corporation and to increase
our long-term return to shareholders."
Elected to the board were William F. Bahl, CFA, CIC, chairman of Bahl &
Gaynor Investment Counsel Inc., based in Cincinnati; James E. Benoski, vice
chairman and retired president of Cincinnati Financial Corporation; Gretchen
W. Price, chief financial officer of philosophy inc., an international skin
care and cosmetics company based in Phoenix, Arizona; John J. Schiff, Jr.,
CPCU, chairman of Cincinnati Financial Corporation; Kenneth W. Stecher,
president and chief executive officer of Cincinnati Financial Corporation; E.
Anthony Woods, chairman and chief executive officer of SupportSource LLC, a
healthcare consulting firm based in Cincinnati.
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 - Kenneth C. Lichtendahl (Chairman), William F. Bahl, Gregory T.
Bier, Gretchen W. Price, Douglas S. Skidmore and John F. Steele, Jr.
- Compensation - W. Rodney McMullen (Chairman), Gregory T. Bier,
Gretchen W. Price and E. Anthony Woods.
- Executive - John J. Schiff, Jr. (Chairman), James E. Benoski, W.
Rodney McMullen, Kenneth W. Stecher, John F. Steele, Jr., Larry R.
Webb and E. Anthony Woods.
- Investment - John J. Schiff, Jr. (Chairman), William F. Bahl, James E.
Benoski, Gregory T. Bier, W. Rodney McMullen, Thomas R. Schiff,
Kenneth W. Stecher and E. Anthony Woods. Richard M. Burridge, CFA,
continues to serve as committee adviser.
- Nominating - William F. Bahl (Chairman), Kenneth C. Lichtendahl,
Gretchen W. Price and Douglas S. Skidmore.
Schiff noted, "Through their committee assignments and their dedication to
understanding our insurance business, our directors work toward a prosperous
future for the shareholders of Cincinnati Financial, supporting stability for
our agents, policyholders and associates."
The board of directors announced promotions for two officers. Martin F.
Hollenbeck, CPCU, CFA, was named chief investment officer of Cincinnati
Financial Corporation and all property casualty subsidiaries, in addition to
his current positions as senior vice president for the company's insurance
subsidiaries and president and chief operating officer of CFC Investment
Company. Hollenbeck is a Chartered Property Casualty Underwriter and Chartered
Financial Analyst with a master's degree in business from Xavier University
and 16 years of investment management experience.
Dennis E. McDaniel, CPA, CFM, CMA, CPCU, was promoted to assistant vice
president, investor relations, for the company's standard market property
casualty subsidiaries. Dennis joined the company's planning and risk
management department in January 2008 with 25 years experience in the
insurance industry, including investor relations. In addition to several
financial professional designations, Dennis holds a master's degree in
business from the University of Cincinnati.
Cincinnati Financial Corporation offers business, home and auto insurance,
our main business, through The Cincinnati Insurance Company and its two
standard market property casualty companies. The same local independent
insurance agencies that market those policies may offer products of our other
subsidiaries, including life and disability income insurance, annuities and
surplus lines property and casualty insurance. For additional information
about the company, please visit www.cinfin.com.
Mailing Address:
P.O. Box 145496
Cincinnati, Ohio 45250-5496
Street Address:
6200 South Gilmore Road
Fairfield, Ohio 45014-5141
SOURCE Cincinnati Financial Corporation
CONTACT: Investors, Dennis E. McDaniel, CPA, CMA, CFM, CPCU,
+1-513-870-2768, CINF-IR@cinfin.com, or
Media, Joan O. Shevchik,
+1-513-603-5323,
Media_Inquiries@cinfin.com, both of
Cincinnati Financial
Corporation/
Web Site: http://www.cinfin.com /
(CINF)
