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CHICAGO, May 14, 2021 /PRNewswire/ -- Old Republic International Corporation (NYSE: ORI) today announced the following changes in its Accounting and Finance Executive Group. The changes are occasioned by Karl Mueller's decision to retire as ORI's Chief Financial Officer, effective June 30, 2021. The decision ends a highly successful 40-year career that began in public accounting, with the last 17 years dedicated to ORI's business. Karl has agreed to provide advisory services for a period of time to ensure a seamless transition to his successor.
To succeed Karl, ORI named Deputy CFO Frank Sodaro (52) as its Chief Financial Officer, effective July 1, 2021. Frank, a CPA by profession, was most recently ORI's Deputy Chief Financial Officer, and brings solid insurance accounting and finance experience garnered during the past 26 years. He will concurrently join the Company's Office of the Chief Executive Officer.
ORI also named Chris Lieser (61) as its Deputy Chief Financial Officer, effective July 1, 2021. Chris, also a CPA by profession, will be adding greater responsibilities to his continued role as Chief Financial Officer of our Company's Title Insurance business, to which he has dedicated 37 years of service.
In making these announcements, Craig Smiddy, Old Republic's President and Chief Executive Officer, noted, "The appointments of Sodaro and Lieser reflect the Board's confidence that they will continue to serve with excellence, affirming the great tradition of professional and loyal service that Karl Mueller exemplified."
About Old Republic
Chicago-based Old Republic International Corporation is one of the nation's 50 largest shareholder-owned insurance businesses. It is a member of the Fortune 500 listing of America's largest companies. The Company is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A long-term interest in mortgage guaranty and consumer credit indemnity coverages has devolved to a run-off operating mode in recent years. Old Republic's general insurance business ranks among the nation's 50 largest, while its title insurance operations are the third largest in its industry.
The nature of Old Republic's business requires that it be managed for the long run. Its consistent and reliable cash dividend policy reflects this long-term orientation. Here's a summary of recent years' total book and market returns, which includes the addition and reinvestment of cash dividend payments, in comparison with the financial performance of three selected indices similarly developed.
Selected Indices' Compounded
Total Annual Returns
S & P
S & P
Ten Years 2001 - 2010
Ten Years 2011 - 2020
Twenty Years 2001 - 2020
First Quarter 2020 - only
First Quarter 2021 - only
According to the most recent edition of Mergent's Dividend Achievers, Old Republic is listed in 58th place among just 111 qualifying publicly held companies, out of thousands considered, that have posted at least 25 consecutive years of annual dividend growth.
For Old Republic's latest news releases and other corporate documents:
Please visit us at www.oldrepublic.com
Alternatively, please write or call: Investor Relations
Old Republic International Corporation
307 North Michigan Avenue, Chicago, IL 60601
At Old Republic:
At Financial Relations Board:
Craig R. Smiddy: President and Chief Executive Officer
Analysts/Investors: Joe Calabrese 212/827-3772
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SOURCE Old Republic International Corporation