UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 19, 2011
EMPLOYERS HOLDINGS, INC.
(Exact Name of Registrant as Specified in its Charter)
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NEVADA
(State or Other Jurisdiction of
Incorporation)
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001-33245
(Commission File Number)
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04-3850065
(I.R.S. Employer Identification No.)
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10375 Professional Circle
Reno, Nevada
(Address of Principal Executive Offices)
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89521
(Zip Code)
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Registrant's telephone number including area code: (888) 682-6671
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No change since last report
(Former Name or Address, if Changed Since Last Report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Section 5 – Corporate Governance and Management
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Item 5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
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(b)
On January 19, 2011, Employers Holdings, Inc. (the “Company”) announced that the Company and Martin J. Welch, the President and Chief Operating Officer of, among others, the insurance subsidiaries of the Company, have mutually agreed to the separation of Mr. Welch’s employment with the Company. Effective February 1, 2011, Mr. Welch will (i) cease his employment with the Company and its subsidiaries, and (ii) resign as a member of the Company’s Board of Directors and the Boards of Directors of all subsidiaries of the Company on which he serves. Mr. Welch’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
The Company has negotiated a separation agreement with Mr. Welch that provides for severance pursuant to the terms of Mr. Welch’s existing employment agreement. Mr. Welch’s employment agreement is filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on December 23, 2008.
Furnished as Exhibit 99.1 and incorporated herein by reference is the press release issued by the Company.
Section 9 – Financial Statements and Exhibits
| Item 9.01. | Financial Statements and Exhibits. |
99.1 Employers Holdings, Inc. press release, dated January 19, 2011.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EMPLOYERS HOLDINGS, INC.
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By:
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/s/ Ann W. Nelson
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| Name: | Ann W. Nelson | ||
| Title: | Executive Vice President,
Corporate & Public Affairs
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Dated: January 19, 2011
Exhibit Index
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Exhibit No.
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Exhibit
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99.1
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Employers Holdings, Inc. press release, dated January 19, 2011.
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Exhibit 99.1
Employers Holdings Announces Management Change
Reno, Nev. – January 19, 2011 – Employers Holdings, Inc. (NYSE: EIG) announced today that the Company and Martin J. Welch have mutually agreed to the separation of his employment as the Chief Operating Officer and President of Employers Insurance Company of Nevada and the Company’s other subsidiaries, effective February 1, 2011. At the present time, there are no plans to fill Mr. Welch’s position upon his departure. The business operations reporting to Mr. Welch will report to Douglas D. Dirks, President and Chief Executive Officer.
Additionally, Mr. Welch has resigned as a member of the Company’s Board of Directors and the Boards of Directors of all subsidiaries of the Company on which he serves, in each case effective February 1, 2011. Mr. Welch’s resignations are in no way the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
“Marty has had a great impact across the organization over the past six years, first as Chief Underwriting Officer and most recently as Chief Operating Officer,” said Dirks. “Among his many accomplishments, Marty successfully led the integration of Employers and AmComp, Inc. as well as the implementation of the new underwriting system currently used by our insurance subsidiaries.”
Welch said, “I am grateful for the opportunity to have worked with Doug and his team and to have been a part of all that we have accomplished together over the past six years.”
About Employers Holdings, Inc.
Employers Holdings, Inc. (NYSE: EIG) is a holding company with subsidiaries that are specialty providers of workers' compensation insurance and services focused on select small businesses engaged in low-to-medium hazard industries. The company, through its subsidiaries, operates coast to coast. Insurance is offered by Employers Insurance Company of Nevada, Employers Compensation Insurance Company, Employers Preferred Insurance Company, and Employers Assurance Company, all rated A- (Excellent) by A.M. Best Company. Additional information can be found at: http://www.employers.com.
Copyright© 2011 EMPLOYERS. All rights reserved. EMPLOYERS(R) and America's small business insurance specialist(R) are registered trademarks of Employers Insurance Company of Nevada.
SOURCE Employers Holdings, Inc.
Copyright© 2010 EMPLOYERS. All rights reserved. EMPLOYERS® and America's small business insurance specialist® are registered trademarks of Employers Insurance Company of Nevada.
CONTACT:
Media – Ty Vukelich, Vice President, Corporate Marketing, tvukelich@employers.com, (775) 327-2677
Analysts – Vicki Erickson, Vice President, Investor Relations, verickson@employers.com, (775) 327-2794