WARWICK – Beacon Mutual Insurance Co. today announced the resignation of Carl Hayes and Brendan Doherty from the company’s board of directors.
Hayes, whose resignation is effective tomorrow, has been a member of the board since 1995 and its chairman since February 2006.
“I am proud to have served on the board, particularly this past year, when the company faced a number of challenges,” Hayes said in a statement today. “It was an unprecedented time of reform and change in the company’s history.”
But, he said, “Due to business and personal demands, and the time commitment required as the chair of the board, I believe it is the appropriate time for me to tender my resignation.” In his 14 months as chairman, Beacon said, he has spent more than 700 hours in meetings and discussions with the company’s board, employees and senior managers.
Doherty, one of four gubernatorial appointees, had served on the board since February 2006, chairing its corporate governance committee. His last board meeting was yesterday.
“Because of the reforms initiated over the past year … I leave the board having confidence that the company is moving in the right direction,” Doherty said.
He is to be sworn in this Saturday as the new superintendent of the R.I. State Police.
The board yesterday elected Vice Chair Richard J. DeRienzo, a board member since April 2006, to take over as chairman. A certified public accountant, he is the managing principal of Lefkowitz, Garfinkel, Champi & DeRienzo PC, a Providence-based accounting and business consulting firm.
“I want to thank Carl and Brendan for their service to the Beacon this past year. Their hard work and insights were invaluable during our response to the Almond/Giuliani Report,” DeRienzo said. “As acting chair, my main priority will be to ensure the company continues to operate in a transparent manner that best serves our policyholders, injured workers and Rhode Island’s workers’ compensation system.”
