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Navigators Announces Board Of Directors Changes

Stocks in this article: NAVG

New York, NY, March 29, 2011 (GLOBE NEWSWIRE) -- The Navigators Group, Inc. (NASDAQ:NAVG) today announced that Peter A. Cheney will retire from the Board of Directors at the conclusion of his current term in May 2011. The Company also announced that it has nominated Geoffrey E. Johnson to stand for election at the Company’s upcoming Annual Meeting of Stockholders on May 26, 2011.

Mr. Cheney, age 68, has been a director since 2003 and has served as the chairman of the Company’s Finance Committee and as a member of the Audit Committee. Mr. Cheney retired after 19 years with National Re Corporation in 1996, where he held various positions including Executive Vice President, Chief Financial Officer, and Director. 

Mr. Johnson, age 63, began his career at Price Waterhouse UK in 1969 where he remained for 29 years, serving major clients of the firm and holding a number of management positions, ultimately becoming Managing Partner of Price Waterhouse Europe. In 1998, he moved to New York to become Global CFO/Operations Leader of the newly merged PricewaterhouseCoopers. Most recently, he served as Chief Executive Officer of L&F Insurance Group, Bermuda from 2002 to 2010 and is currently Chairman of Professional Asset Indemnity Limited, a Bermuda Insurance Company, and Senior Independent  Director of Omega Insurance Holdings Limited--a UK-listed, Bermuda resident insurance company with substantial Lloyd’s interests. He is a graduate of Sheffield University (B.A. Economics) and is a Fellow of the Institute of Chartered Accountants in England and Wales. 

"We wish to thank and recognize Peter Cheney for his years of dedicated service," said Stanley A. Galanski, President and Chief Executive Officer. "Peter has been a sage advisor to us for many years and his many contributions will be missed. I am also very pleased to add Geoffrey to our Board of Directors. His financial and leadership experience in both the U.S. and the international insurance markets will be an asset to our growing Company."

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