Exhibit 99.1
NEWS BULLETIN
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Old Republic International Corporation
307 North Michigan Avenue, Chicago, IL 60601-5382 312/346-8100
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For Further Information:
AT OLD REPUBLIC: AT FINANCIAL RELATIONS BOARD:
A.C. Zucaro George Zagoudis
Chairman & CEO General Information
(312) 346-8100 (312) 640-6663
gzagoudis@financialrelationsboard.com
AT FINANCIAL RELATIONS BOARD: AT FINANCIAL RELATIONS BOARD:
Leslie Loyet Tim Grace
Analysts/Investors Media Inquiries
(312) 640-6672 (312) 640-6667
lloyet@financialrelationsboard.com tgrace@financialrelationsboard.com
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FOR IMMEDIATE RELEASE NYSE: ORI
THURSDAY, MAY 12, 2005
OLD REPUBLIC ANNOUNCES
MANAGEMENT ADDITIONS AND PROMOTIONS
Forms Corporate Office of the Chief Executive Officer
Chicago - May 12, 2005 - Old Republic International Corporation (NYSE: ORI),
today announced several senior management additions, promotions and alignments.
All of these changes are effective June 1, 2005.
General Insurance Group
Within the General Insurance Group, Greg Ator, 52, will advance to a
newly-created position of Senior Vice President-Standard Commercial Insurance.
He will continue as President and Chief Executive Officer of the Bituminous
Companies with added management responsibility for the standard commercial
insurance businesses conducted by Old Republic Insurance Company, Old Republic
Surety, and Employers General. Ator has been with Old Republic and several
subsidiaries for 31 years.
Concurrently, Scott Rager, 56, Chief Executive Officer of Old Republic's Great
West truck insurance business, will advance to the new position of Senior Vice
President-Transportation Insurance of the General Insurance Group. He will have
continued responsibility for the management of the Great West companies, as well
as those of the Corporation's general aviation, automobile extended warranty and
Canadian truck and travel insurance businesses. Rager has held various positions
during his 29-year career at Old Republic and several subsidiaries.
Greg Ator and Scott Rager will continue as members of the Old Republic General
Insurance Group's Office of the Chief Executive Officer (OCEO) together with Jim
Kellogg, 53, President-General Insurance; Spencer LeRoy, 59, Senior Vice
President and General Counsel; Karl Mueller, 45, Senior Vice President and Chief
Financial Officer and Al Zucaro, 66, Chief Executive Officer.
-more-
Old Republic International Corporation
Add 1
Mortgage Guaranty Group
Chris Nard, 41, is promoted to President and Chief Executive Officer of Old
Republic's Mortgage Guaranty Group of companies, and to Senior Vice
President-Mortgage Guaranty of Old Republic International Corporation. Chris
Nard has spent his entire career in the mortgage finance industry, including the
past ten years with Old Republic's Mortgage Guaranty Group. In these positions,
he succeeds Bill Simpson, 63, who will continue as Chairman of the Mortgage
Guaranty subsidiaries and as a member of the three-person Mortgage Guaranty OCEO
along with Jimmy Dew, 64, as Vice Chairman, and himself.
Title Insurance Group
There are no management changes in the Title Insurance Group. Rande Yeager, 56,
President and Chief Executive Officer, will continue to lead this segment. This
Group's OCEO will also continue to consist of Rande; Mark Budzinski, 46, Senior
Vice President, Legal; Robert Chapman, 49, Senior Vice President and Chief
Information Officer; Pat Connor, 48, Senior Vice President, National Services
Group; Gary Horn, 51, Senior Vice President and Chief Financial Officer; Wayne
Shupe, 47, President of Old Republic's Western Title Operations; and Stephen
Wilson, 56, Executive Vice President.
Corporate Operations
In Old Republic's Chicago headquarters, the Corporation will add Stephanie
Cournoyer, 30, to its executive ranks as Vice President-Director of Financial
Reporting. Prior to joining Old Republic, she spent nine years with the
international accounting firm of KPMG LLP, most recently as a senior audit
manager specializing in the insurance industry.
At the corporate level, Old Republic is establishing an Office of the Chief
Executive Officer. This group is composed of Jim Kellogg, Senior Vice
President-General Insurance; Spencer LeRoy, Senior Vice President and General
Counsel; Karl Mueller, Senior Vice President and Chief Financial Officer; Chris
Nard, Senior Vice President-Mortgage Guaranty; Rande Yeager, Senior Vice
President-Title Insurance; and Al Zucaro, Chairman and Chief Executive Officer.
In making the announcement, Zucaro noted that "The objective of these
promotions, additions and executive alignments is to enhance the coordination of
Old Republic's multi-faceted business and to ensure continuity of its culture
and management philosophy for the long run."
A chart reflecting the Corporation's senior executive ranks and responsibilities
is attached to this news release.
About Old Republic
Chicago-based Old Republic International Corporation is an insurance holding
company whose subsidiaries market, underwrite and provide risk management
services for a wide variety of coverages, principally in the property and
liability, mortgage guaranty and title insurance fields. One of the nation's 50
largest publicly owned insurance organizations, Old Republic has assets of
approximately $10.6 billion and capitalization of $4.0 billion. Its current
stock market valuation is approximately $4.3 billion.
For the latest news releases and other corporate documents on Old Republic
International visit: www.oldrepublic.com
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OLD REPUBLIC INTERNATIONAL CORPORATION
Senior Management Group
Effective June 1, 2005
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Old Republic International Corporation
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OCEO
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Jim Kellogg, Sr. VP - General Insurance
Spencer LeRoy, Sr. VP & General Counsel
Karl Mueller, Sr. VP & CFO
Chris Nard, Sr. VP - Mortgage Guaranty
Rande Yeager, Sr. VP - Title Insurance
Al Zucaro, Chairman & CEO
Old Republic Morgage Guaranty Old Republic General Insurance Old Republic Title Insurance
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OCEO OCEO OCEO
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Jimmy Dew, Vice Chairman Greg Ator, Sr. VP - Standard Commercial Ins. Mark Budzinski, Sr. VP Legal
Chris Nard, President & CEO Jim Kellog, Pres. - General Ins. Robert Chapman, Sr. VP & CIO
Bill Simpson, Chairman Spencer LeRoy, Sr. VP & General Counsel Pat Connor, Sr. VP - National Services Group
Karl Mueller, Sr. VP & CFO Gary Horn, Sr. VP & CFO
Scott Rager, Sr. VP - Transportation Ins. Wayne Shupe, Pres. - Old Republic Western
Title Operations
Al Zucaro, Chariman & CEO
Stephen Wilson, Exec. VP
Rande Yeager, Pres. & CEO