Root Promotes Seasoned Leaders from Within and Boosts Growth Efforts with New Business Development Leader
15 Mayo 2023 - 3:10PM
Root, Inc. (NASDAQ: ROOT), the parent company of Root Insurance
Company, announced today the promotion of two senior leaders and
the addition of a Business Development leader.
Megan Binkley, formerly interim Chief Financial
Officer, has been named Chief Financial Officer. Jon Allison,
formerly Root’s General Counsel, has been named Chief
Administrative Officer.
Binkley joined Root in 2019 as Chief Accounting
Officer and was promoted to Deputy CFO in 2022. As Deputy CFO,
Binkley led all operational elements within the finance
organization through the company’s material improvement in
profitability. She was named Interim CFO in March 2023. As Chief
Financial Officer, Binkley will continue to oversee finance,
accounting, treasury, tax, financial reporting, corporate
development, reinsurance and reserving, and investor relations.
Prior to joining Root, Binkley worked as a senior manager at KPMG
U.S. and KPMG Netherlands, primarily serving insurance and banking
clients, including many large public companies.
As Chief Administrative Officer, Allison will
continue to oversee Root’s legal department, but will also lead the
Human Resources organization, as well as the Claims and Customer
Service organizations. Allison joined Root in 2017 with extensive
regulatory, government affairs, and policy experience operating at
public insurance companies. Much of his career was spent in public
service and policy advocacy, including serving as Chief of Staff to
Ohio Governor Bob Taft and managing the state’s largest business
regulatory agency.
“We are thrilled to be promoting these two
outstanding leaders,” said Alex Timm, Co-Founder & CEO. “Both
have been instrumental in repositioning Root over the last year,
showing strong resilience and the ability to navigate challenging
times and come out positioned for success. They are experienced
operators who have consistently delivered results. The entire Root
team is excited for their trajectory and what they will deliver for
our customers and shareholders.”
Jason Shapiro joins Root as Senior Vice
President of Business Development from ForeverCar where he served
as President with responsibility for all operations and revenue
generation. At Root, Shapiro will spearhead the expansion of Root’s
embedded platform and will focus on growth initiatives. With more
than 20 years of leadership and automotive experience, Shapiro
brings a strong network and proven results. Prior to ForeverCar,
Shapiro served as Vice President, OEM Development at TrueCar and
Senior Director, Enterprise Dealer Partnerships at Cox
Automotive.
"As a seasoned operator in building and scaling
business development functions to drive substantial revenues, we
look forward to Jason leading the expansion of our embedded
offering,” said Timm. “His deep experience in the automotive
industry will allow him to hit the ground running while we continue
to scale our platform."
“I’m excited to join the team at Root to
leverage their best in class technology to deliver a modern
customer experience for shopping, purchasing, and servicing auto
insurance,” Shapiro said.
About Root, Inc.Founded in 2015
and based in Columbus, Ohio, Root, Inc. (NASDAQ: ROOT) is the
parent company of Root Insurance Company. Root is revolutionizing
insurance through data science and technology to provide consumers
a personalized, easy, and fair experience. The Root app has more
than 12 million app downloads and has collected more than 20
billion miles of driving data to inform their insurance
offerings.For more information on Root, visit root.com.
Contacts:
Media:press@root.com
Investor Relations:ir@root.com
Forward-Looking StatementsThis
press release contains forward-looking statements within the
meaning of federal securities laws regarding Root, Inc. These
forward-looking statements relate to, among other
things, expectations about our future business results. Such
forward-looking statements are not guarantees of future
performance and are subject to risks, uncertainties and other
factors, some of which are beyond the company's control and
are difficult to predict. We have based our forward-looking
statements on our current expectations, estimates and projections
about our industry and our company. We caution that these
statements are not guarantees of future performance and you
should not rely unduly on them, as they involve risks,
uncertainties and assumptions that we cannot predict and many
of which are beyond our control. Accordingly, our actual
results may differ materially from the future performance that we
have expressed or forecast in our forward-looking statements.
In accordance with "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, we have included in
Root's Form 10-K for the year ended Dec. 31, 2022, and other
SEC filings, cautionary language identifying
important factors, though not necessarily all such factors,
that could cause future outcomes to differ materially from
those set forth in the forward-looking statements. Copies of Root's
Form 10-K and other SEC filings are available on the SEC's
website, Root's website
at https://ir.joinroot.com/investor-relations or by
contacting Root's Investor Relations office.
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