Baldwin & Lyons Executive Chairman ResignsPosted: Updated:
Carmel-based Baldwin & Lyons Inc. has announced Steven Shapiro has resigned as executive chairman and member of the board of directors. Chief Executive Officer Randy Birchfield says the company has decided to retire the executive chairman position as well.
Birchfield said in a news release the position was established in late 2015 during a management transition period to help develop a long-term strategic plan for Baldwin & Lyons.
"Over the last two years, the management team has successfully created and is executing a plan to grow the business and increase shareholder value," Birchfield said. "Consequently, the Board has decided to retire the Executive Chairman position and establish a more traditional corporate governance structure. The Board and I wish to thank Steve for providing his time, effort and guidance to the Company during this transition. We wish him the best as he resumes pursuit of his other interests and are pleased that he remains an interested shareholder and is invested in the Company’s success."
The company says Stuart Bilton will assume the role of lead independent director to act as a liaison between management and the board, and to assist in facilitating the board's activities. Bilton has been a board member at Baldwin & Lyons since 1987.
Improving Efficiency At Board Meetings
Unproductive board meetings waste time, demotivate board members and frustrate staff. While most boards function relatively well, they may not be functioning at their highest level. Here are several simple changes you can make right now that will keep your meetings productive and on target. Implement a consent agenda. A consent agenda is a single action item at the start of board meetings that typically includes board minutes, financial information, and anything else that may...
Most Popular Stories
Airport Board Approves New Concessions Vendors
The Indianapolis Airport Authority Board has approved new contracts for several retail and services vendors at Indianapolis International Airport. The contracts are the first of several approvals that are expected as part of the airport's Concessions Refresh initiative, which aims to increase the local focus among vendors. Marsha Stone, senior director of commercial enterprise at the airport, says the effort will be one of the most impactful public-facing projects that...
Two Indiana Banks on Forbes Best List
Forbes has ranked the best banks in the country and Indiana has placed two on the list. First Merchants Bank finished 2nd, and Old National Bancorp came in at 97. The metrics used by the publication include tangible common equity, return on average assets, net interest margin, efficiency ratio and net charge-offs as a percentage of total loans.
ClearObject Acquired By Equity Firms
One of Indiana's biggest tech success stories is being acquired. Two equity firms have acquired a majority interest in Fishers-based Internet of Things company ClearObject. The company's headquarters will remain in Fishers and Chief Executive Officer John McDonald will continue to lead the management team. The companies are not releasing financial terms of the transaction. ClearObject was founded in 2010 as CloudOne, and designs, develops and manages Internet of Things-driven...
Hard Rock Cafe Indianapolis to Close in March
Florida-based Hard Rock International has announced that its Indianapolis location will close. The lease for the Hard Rock Cafe Indianapolis space on South Meridian Street is set to expire in March and the company will not renew it.
Hotel, Mattress Company to Launch Collaboration
Jeffersonville-based Bowles Mattress Co. and West Baden Springs Hotel in Orange County will Monday officially launch their new mattress series. The partnership, first announced last month, will make the mattresses that had previously only been made for the resort available to the public.