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Longtime Chubb Corp. executive Thomas F. Motamed will become CNA Financial Corp's new chairman and chief executive next month, in a move that marks a major change at the insurer after it completed its turnaround effort.
Published on May 23, 2008
Effective June 8, Mr. Motamed will succeed the retiring Stephen W. Lilienthal at CNA. Mr. Motamed -- who will have a starting base salary of $1 million -- joins the company after serving 31 "very satisfying" years at insurance giant Chubb, where he most recently was vice chairman and chief operating officer.
Mr. Motamed said, "The opportunity to become CEO of a publicly traded, well-known and respected insurer like CNA is one I did not want to pass up."
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