LandAmerica Promotes Theodore L. Chandler, Jr. to Chairman and CEO Names VCU President Eugene P. Trani Lead Director
|November 2, 2006|
Richmond-based LandAmerica Financial Group, Inc. (NYSE:LFG), one of the nation’s leading providers of real estate transaction services, announces that President and Chief Executive Officer Theodore L. Chandler, Jr., 54, will become Chairman and Chief Executive Officer effective January 1, 2007. In addition, the Board of Directors named VCU President Eugene P. Trani to the newly created position of Lead Director, also effective January 1, 2007. Current Chairman of the Board Charles H. Foster Jr., 63, will continue to serve on the Board of Directors and will assume the honorary title Chairman Emeritus.
“Under Ted’s leadership as CEO, LandAmerica has strengthened its market presence and continues to be ranked as one of the most admired companies in America,” said Foster. “Two years ago, we separated the roles of Chairman and CEO because it made sense for our leadership transition. Today, we believe combining those roles recognizes the confidence the board has in Ted’s leadership and his vision for the future growth of LandAmerica. At the same time, we are enhancing our corporate governance with Gene Trani in the new role of Lead Director.”
“I am pleased to accept the additional role of Chairman of the Board at LandAmerica,” said Chandler, a member of LandAmerica’s Board of Directors since 1991. “As Chairman and Chief Executive Officer, I am deeply committed to our shared vision to become the premier provider of real estate transaction services. The services we provide are essential to the US real estate economy, and our employees know that at LandAmerica, CEO stands for customers, employees, and opportunities. I look forward to continue working with LandAmerica’s employees to create a consistently positive experience for our customers and with the Board of Directors to create enhanced value for our shareholders.”
Prior to joining LandAmerica full-time in 2001, Chandler practiced law for 22 years at Williams Mullen, where he served on the Board of Directors and led the corporate and securities team. Additionally, Chandler serves on the Board of Directors and executive committee of Hilb, Rogal, and Hobbs, a New York Stock Exchange property and casualty insurance broker, and is a member of the Board of Directors of the Mutual Assurance Society of Virginia, a property and casualty mutual insurance company founded in 1794.
Chandler is involved in board leadership capacities in a number of other organizations including: