Hanover Insurance expects smooth CEO and CFO transitions

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By Sam Bonacci

Amid major changes to its administrative structure, The Hanover Insurance Group is anticipating smooth transitions in the wake of the announced retirement of CEO Frederick Eppinger and the recent death of Chief Financial Officer David Greenfield.

“We have strong succession plans in place across the organization,” spokesman Michael Buckley said. “Fred’s given the board an extended notice and we have ample time to manage through this transition in leadership while we continue to move the company forward.”

Greenfield died on Saturday after undergoing emergency cardiac surgery, according to his obituary. On Monday, Eppinger said that everyone at the company was “deeply saddened by David’s passing.”

“He will be remembered as a professional with great passion and commitment, and as someone who made an important difference during his time with us. Our hearts go out to his family," Eppinger said in a statement

Eppinger has stepped into the CFO role, with Warren Barnes, vice president and corporate controller, serving as the principal accounting officer.

“We have a highly experienced and long-tenured financing and accounting team in place,” Buckley said, explaining that Barnes has been with the company since 1993 and served as corporate controller since 1997.

Eppinger announced in September that he would step down from his role as CEO and president at the Worcester-based insurance company by the end of June, 2016.

According to Buckley, Eppinger’s transition allows ample amount of time for a search, with the company currently evaluating its options for both the CEO and CFO roles. Until a decision is made, the staff at the Hanover will continue moving the company forward, he said.

“From the very beginning and throughout the course of the past 12 years, assembling the best, most talented and most committed team in the industry has been a priority,” he said.