Management ChangeMay 12, 2026, 12:02 PM
Progressive Names Andrew Quigg CFO; Authorizes 25M Share Buyback, $0.10 Dividend
AI Summary
Progressive's Board of Directors elected Andrew J. Quigg as the new Vice President and Chief Financial Officer, effective July 4, 2026, succeeding John P. Sauerland upon his retirement. The Board also renewed authorization to repurchase up to 25 million common shares and declared a quarterly dividend of $0.10 per share, payable July 10, 2026. Additionally, at the Annual Meeting of Shareholders, all eleven directors were elected, the executive compensation program was approved on an advisory basis, and PricewaterhouseCoopers LLP was ratified as the independent auditor for 2026.
Key Highlights
- Andrew J. Quigg elected Vice President and CFO, effective July 4, 2026, succeeding John P. Sauerland.
- Board renewed authorization to repurchase up to 25 million common shares.
- Quarterly common share dividend of $0.10 per share declared, payable July 10, 2026.
- All eleven directors nominated were elected at the Annual Meeting of Shareholders.
- Shareholders approved the executive compensation program with 464,140,742 affirmative votes.
- PricewaterhouseCoopers LLP ratified as independent auditor for 2026 with 480,124,867 affirmative votes.