AUSTIN, Texas, Nov. 7, 2016 /PRNewswire/ -- Citizens, Inc.
(NYSE: CIA) today announced that its Board of Directors has
unanimously appointed Geoff Kolander
as Chief Executive Officer (CEO).
Kolander, the former Chief Legal Officer and head of Corporate
Strategy called the Board's decision "humbling." "Citizens'
Board is comprised of proven leaders with proven character," said
Kolander. "For that reason, I have confidence our executive
team has the board leadership it needs to make a meaningful impact
on the direction of our Company."
Kolander spent the majority of his Citizens' legal career
reporting directly to its founder, Harold
E. Riley, former CEO and Chairman of the Board. Under
Harold Riley's direction as Citizens' sole Class B shareholder,
Kolander briefly held a Citizens' Board seat from 2007-2008, in an
effort to better understand the Company from the board and
executive levels.
In June 2016, Kay Osbourn, President and Chief Corporate
Officer, assumed the title of Interim CEO when the Board announced
it would begin its CEO search.
Kolander went on to say, "I look forward to continuing to work
closely with Kay Osbourn and
Dave Jorgensen in achieving our
strategic objectives currently under way. Citizens is a life
insurance company with talented employees, associates and
agents. The next stage of our Company will be to sharpen our
focus on what we as a team can do to selflessly serve our clients
around the world."
In making its announcement the Board expressed strong support
for its selection of Kolander as Citizens' new CEO and also
expressed its collective confidence in Citizens' executive
team.
According to Citizens' Chairman of the Board, Dr. Robert Sloan, "Geoff
Kolander has been an integral part of Citizens for over a
decade. Geoff has repeatedly proven himself, by his sound
operational judgment, his farsightedness, his business acumen, and
his commitment to legal compliance, to be one of the most valuable
assets of Citizens. He has effectively worked with all levels of
leadership, including the board, the board's officers, the
company's officers, and the various employment levels, to make sure
that we all stay focused on our core commitments and
responsibilities. The company's future continues the promise
of our founding business principles and strategies with him as our
chief executive officer."
Dr. Dean Gage, Vice Chairman of
Citizens' Board, said of the Board's decision, "During my lifetime
of leadership roles in large organizations, I have observed and
worked with many outstanding leaders of vision, character and
integrity. I know leadership when I see it. As a member
of Citizen's Board working with Geoff for over ten years, I have
been in a position to carefully evaluate and appreciate his
exemplary leadership and his personal courage, perseverance,
integrity and character. He has been a strong stabilizing and
selfless servant who can now lead Citizen's into future
success. He is clearly and without reservation the right
leader for us at this time."
"My background has been in leadership and developing leaders,"
said Coach Grant Teaff, Chairman of
Citizens' Compensation Committee. "Having worked with
Geoff Kolander for 10 years, I have
been able to observe his development as a person and as a
leader. I have been impressed with Geoff's wisdom,
knowledge, toughness and especially his integrity."
"As a member of the Board I am elated that Geoff accepted the
position of CEO at Citizens," said Dr. Terry Maness, Chairman of Citizens' Audit
Committee. "Geoff has worked tirelessly as a corporate
officer and Chief Legal Counsel for Citizens for over 10
years. While his value as a strategic thinker is being
acknowledged by the decision the Board has made, the Board is also
impressed by the way Geoff has provided leadership within an
effective team environment. The combination of Geoff as CEO,
Kay Osbourn as President, and
Dave Jorgensen as Chief Financial
Officer forms a strong leadership team giving the board great
confidence in the future direction of Citizens."
Citizens, Inc. is a financial services company listed on the New
York Stock Exchange under the symbol CIA. The Company utilizes a
three-pronged strategy for growth based upon worldwide sales of
U.S. Dollar-denominated whole life cash value insurance policies,
life insurance product sales in the U.S. and the acquisition of
other U.S.-based life insurance companies. Citizens Class A
common stock closed at $7.88 on
November 4, 2016.
Information herein contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, which can be identified by words such as "may," "will,"
"expect," "anticipate" or "continue" or comparable words. In
addition, all statements other than statements of historical facts
that address activities that the Company expects or anticipates
will or may occur in the future are forward-looking
statements. Readers are encouraged to read the SEC reports of
the Company, particularly its Form 10-K for the fiscal year ended
December 31, 2015, its quarterly
reports on Form 10-Q and its current reports on Form 8-K, for the
meaningful cautionary language disclosing why actual results may
vary materially from those anticipated by management. The
Company undertakes no duty or obligation to update any
forward-looking statements contained in this release as a result of
new information, future events or changes in the Company's
expectations. The Company also disclaims any duty to comment
upon or correct information that may be contained in reports
published by the investment community.
For further information contact:
Investor
Relations
PR@citizensinc.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/citizens-inc-announces-new-chief-executive-officer-300358644.html
SOURCE Citizens, Inc.