Citizens Names Walker Interim President; Begins Nationwide Search

October 3, 2006

Citizens Property Insurance Corporation’s board of governors appointed an interim president this week and also voted to hold a national search for a permanent replacement for Robert Ricker, who resigned a week ago from the top job at Citizens.

Ricker recommended Wallace take over as interim president at Citizens when he announced his resignation last week in an emergency board meeting.

The board unanimously approved Wallace as interim president in a brief teleconference meeting Monday morning. The meeting was continued from a week earlier after two board members who were not involved in Wallace’s hiring said they wanted a chance to talk with him.

Walker will assume his interim duties when Ricker, who has served three years as Citizens president, resigns Nov. 1. Ricker will stay on through December as a consultant.

Florida Insurance Commissioner Kevin McCarty requested that Citizens conduct a nationwide search for a new president.

“A nationwide search that includes consideration of candidates within Citizens and outside of the organization is essential to maintain the public confidence needed for the successful operation of Citizens,” McCarty said in a letter to Citizens Board Chairman Bruce Douglas.

Douglas said he hoped a national search could produce a short list of candidates by the end of November so the board could make the final selection.

The candidate will have to be confirmed by the Florida Senate.

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