08/15/2024 | Press release | Distributed by Public on 08/15/2024 15:21
FARGO, North Dakota, August 15, 2024(GLOBE NEWSWIRE)- NI Holdings, Inc.(NASDAQ: NODK)today announced that Michael J. Alexander has stepped down from his role as President and Chief Executive Officer of NI Holdings, along with his role as a board member of the company, effective August 13, 2024. To ensure seamless stewardship of the company until a permanent successor is named, the Board has appointed Cindy L. Launer as Interim Chief Executive Officer, effective August 13, 2024.
Ms. Launer has served as an independent non-executive director on NI Holdings' board since November 2019 and brings 18 years of experience in the insurance industry with a proven track record of success as a global finance and operations executive. Most recently, Ms. Launer served as Chief Operating Officer of AIG's Commercial Insurance Business, before retiring in 2018. She will remain on the Board of Directors while serving as the Interim Chief Executive Officer.
"We are grateful for Jim's many contributions to NI Holdings over his 19 years as CEO and wish him continued success in his future endeavors. We are very fortunate to have a Director who is able to step in, on an interim basis, giving the Board time to explore potential candidates and make the right long-term succession decision for the company," said Eric K. Aasmundstad, Chairman of the Board. "We are confident that Cindy has the expertise to lead the company through this transition into its next phase of success."
Safe Harbor Statement
Some of the statements included in this news release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Actual results could vary materially. Factors that could cause actual results to vary materially include risks we describe in the periodic reports we file with the Securities and Exchange Commission. You should not place undue reliance on any such forward-looking statements. We disclaim any obligation to update such statements or to announce publicly the results of any revisions that we may make to any forward-looking statements to reflect the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
For a detailed discussion of the risk factors that could affect our actual results, please refer to the risk factors identified in our SEC reports, including, but not limited to our Annual Report on Form 10-K, as filed with the SEC.
Investor Relations Contact:
Seth Daggett
Executive Vice President, Treasurer and Chief Financial Officer
701-298-4348
[email protected]