This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Allstate Recognizes Retiring Directors

Stocks in this article: ALL

NORTHBROOK, Ill., Feb. 20, 2013 /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) announced that Joshua I. Smith, 71, and W. James Farrell, 70, will not stand for re-election to its board of directors at Allstate's annual stockholders meeting scheduled for May 21, 2013. Smith is reaching the retirement age set by Allstate's board policy, and Farrell has decided for personal reasons not to stand for re-election one year before reaching retirement age. With their retirements, the Allstate board will have 12 members.

Joshua Smith has served on the Allstate board since 1997, currently as a member of the compensation and succession and the nominating and governance committees. With more than a decade of experience leading The Coaching Group, a management consulting firm, Smith contributed extensive executive leadership and management experience to the Allstate board. His considerable expertise with entrepreneurial enterprises, specifically with small, minority- and women-owned businesses, provided the board with valuable insights on managing Allstate's relationships with its agencies. In addition, Smith's service on the boards of Caterpillar, Comprehensive Care Corporation and Federal Express enhanced the board's insights into corporate governance and executive compensation practices.  

W. James Farrell has been an Allstate director since 1999, currently serves as chair of the compensation and succession committee and is a member of the nominating and governance committee, where he also served as chair from 2006 until 2012. In addition, he has been a member of the executive committee since 2010. As chairman of Illinois Tool Works from 1996 until his retirement in 2006, Farrell lent his management expertise and keen understanding of the interrelationship between long-term and short-term business strategies to his varied roles on Allstate's board. In addition, Farrell's service on the boards of 3M, Abbott and United Continental gave him an in-depth understanding of compensation programs and executive talent that were integral to Allstate board decisions in these areas.

"Allstate's board is composed of directors possessing strong expertise and experience in strategic oversight, corporate governance, stockholder advocacy and leadership," said Thomas J. Wilson, chairman, president and chief executive officer. "In particular, our directors have taken an active role in enhancing our company's best practices as we actively solicited and acted upon investor feedback on compensation and other corporate governance matters.

"We thank Josh and Jim for their many years of outstanding service as Allstate directors and wish them all the best in their retirements," Wilson said.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs