Fla.’s Citizens Board Recommends Wallace as New President

Citizens Property Insurance Corp.”s board of governors voted unanimously this week to recommend interim President Scott Wallace be appointed to the post permanently.

“I think Scott Wallace will make an outstanding president for Citizens,” said Board Chairman Bruce Douglas, after Wallace was selected from more than 70 candidates by a special board search committee during a teleconference meeting.

Wallace, the former senior vice president of operations, was appointed to the interim position after Bob Ricker, who had been president of Citizens for three years, announced he would leave the position Nov.1, 2006.

The Florida Senate likely will hold Wallace’s confirmation hearing during the regular session of the Legislature, which begins in March.

Wallace’s salary will be $220,000 annually, the same as Ricker’s, who left his position to spend more time with his family.

James Earl Cook, president of IPS Search, told board members his company identified more than 70 “national and international” candidates for the job.

That number was cut to about 30 and three finalists were interviewed by search committee members Jan. 3 in Jacksonville.

Board member Carlos Lacasa said he was glad Wallace had been selected because of Wallace’s experience in customer service and related logistical support issues.

If confirmed by the Senate, Wallace would be the second president of Citizens, a not-for-profit public corporation created by the Legislature in 2002 to provide insurance for Florida residents who cannot obtain it in the private market.

Source: Citizens