Carmel-based Baldwin & Lyons Co., which saw three top executives leave in 2016 after clashing with the board's executive chairman, this week saw the departure of another high-level leader.
Late Thursday, the transportation-industry insurance company disclosed in a public filing that Chief Operating Officer Michael J. Case had left the company, effective that day.
The filing did not offer a reason for Case’s departure. Company spokeswoman Leila Palizi declined to comment on why Case left or who initiated the departure, but she said the move was not related to misconduct or wrongdoing.
IBJ attempted to reach Case via LinkedIn Friday morning but did not immediately receive a response.
With Case’s departure, Baldwin & Lyons’ president and CEO, Randall Birchfield, will assume the additional role of COO.
The company also disclosed Thursday that it had added a new outside director to its board.
Steven J. Bensinger, 63, is based in New York City and serves as a partner and senior adviser at Stamford, Connecticut-based TigerRisk Partners LLC. TigerRisk, formed in 2008, is risk management firm for the insurance industry.
“As we continue executing key initiatives that align with our strategic plan for growth, we cannot underestimate the importance of a strong board of directors to help guide the direction of our company’s future,” Executive Chairman Steve Shapiro said in a prepared statement. “Steve is an extraordinarily knowledgeable and well-rounded professional.”
Case had been with Baldwin & Lyons since 2003. He previously served as general counsel and secretary. He assumed the role of chief operating officer in 2016 as part of a larger executive shakeup at the company.
In May 2016, CEO Joseph DeVito, Chief Financial Officer Patrick Corydon and Deputy Chairman and former CEO Gary Miller notified the company that they were stepping down. In a public filing, the company said the men’s departures "were due to their disagreement with respect to the company's recent leadership changes, overall strategy and other matters."
The filing also included a copy of DeVito’s resignation letter, which criticized Shapiro’s leadership.
The three executives’ departures led to several other company leaders, including Case, being assigned to new or additional job duties.