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April 20, 2006

Beacon fires CEO, another top executive

Beacon Mutual Insurance Co. early this morning fired its chief executive officer and another top executive.

CEO Joseph A. Solomon and vice president of underwriting David Clark were fired with cause, meaning they cannot collect severance, said Bill Fischer, a company spokesman.

The board's vote came during a meeting that started at 4 p.m. yesterday and didn't conclude until about 2:15 this morning, Fischer said.

-- projo.com staff writer Kate Bramson

Posted by Jack Perry  at 7:16 AM | Permalink

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