NORTHBROOK, Ill., Jan. 8 /PRNewswire-FirstCall/ -- The board of directors
of The Allstate Corporation has elected Dan Hale senior vice president and
chief financial officer, effective January 7, 2003. He replaces John Carl, who
retired in mid 2002 as a result of health related concerns.
"Dan's wide experience across a variety of financial services will provide
us with a valuable perspective on the successful implementation of our
strategy to expand Allstate to become a more broadly based financial services
firm," said Edward M. Liddy, Allstate's chairman, president and chief
executive officer.
Mr. Hale has held a wide variety of key financial positions during his
career. An economics graduate from Yale, Dan joined the General Electric
Company in 1966 in the corporate finance group, and held positions of
increasing responsibility in his 20 plus year tenure at GE. During this
period he spent 8 years with GE Capital Corporation before being appointed a
Managing Director with GE's brokerage company Kidder Peabody Group.
In 1988 Mr. Hale was appointed President of the Chase Manhattan Leasing
Company, and in 1991 joined insurer USF&G Corporation as Executive Vice
President, becoming Chief Financial Officer from 1993 until the firm's
acquisition by the St Paul Companies in 1998. He subsequently served as
Executive Vice President and Chief Financial Officer of the Promus Hotel
Corporation until its acquisition by the Hilton Hotels Group.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held
personal lines insurer. Widely known through the "You're In Good Hands With
Allstate(R)" slogan, Allstate provides insurance products to more than 16
million households and has approximately 12,500 exclusive agents and financial
specialists in the U.S. and Canada. Customers can access Allstate products
and services through Allstate agents, or in select states at allstate.com and
1-800-Allstate(R). Encompass(SM) and Deerbrook(R) Insurance brand property and
casualty products are sold exclusively through independent agents. Allstate
Financial Group includes the businesses that provide life insurance,
retirement and investment products, through Allstate agents, workplace
marketing, independent agents, banks and securities firms.
SOURCE Allstate Corporation
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CONTACT:
Emily Daly of Allstate Corporation,
+1-847-402-5600
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