Friday, February 20, 2009

Nationwide's CEO dumped - Columbus Dispatch Asleep at the Wheel

Editor's Note: Another big story where The Dispatch totally misses the boat. Few reasons given, but we are told a lot about what a great corporate citizen Mr. Jurgensen was. Also, notice how the company's 2008 loss isn't mentioned until 10 graphs into the story and we have to read on to the jump to see that Mr. Jurgensen received $23 million for taking the company's publicly traded unit private. Maybe the newspaper will follow up with a more complete story - MT

The Columbus Dispatch - The top executive at Nationwide has stepped down and been replaced by the president and chief operating officer, bringing abrupt change to one of the city's largest employers.

Jerry Jurgensen, chief executive since 2000, and the company's board of directors "mutually agreed" that Jurgensen would step down, Nationwide said in a news release yesterday. He has been replaced by Steve Rasmussen, who has been with the company since 1998.

Rasmussen, 56, has been president and chief operating officer of Nationwide Mutual and Nationwide Mutual Fire Insurance Co. since September 2003. He also has served as chairman, chief operating officer and director of Allied Group Inc., a Nationwide subsidiary.

The company gave little explanation for Jurgensen's departure, and he could not be reached for comment.

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