Nationwide Insurance CEO to Retire
April 10, 2019—Long-time Nationwide Chief Executive Officer Steve Rasmussen plans to retire later in 2019, according to a report by the Insurance Journal.
Rasmussen’s last official day as CEO will be Oct. 1, 2019, ending more than 10 years leading the Ohio-based insurer.
Already, Nationwide’s board of directors is searching for a successor, backed by “an independent CEO succession advisor.” Rasmussen has been CEO at Nationwide since Feb. 2009, and has spent his 45-year career at the insurer’s family of companies. He first joined Nationwide in 1998 as a result of the merger with Allied Insurance, where he served as president and chief operating officer. He joined Allied in 1974.
“His invaluable leadership guided the company’s transition to one brand ...,” Tim Corcoran, Nationwide’s board chairman, said in a press release.