Allstate announces several leadership changes

Allstate announced Mario Rizzo, the chief financial officer, will succeed Glenn Shapiro as president of property-liability. 

Shapiro, who has led the business since 2018, announced his retirement. He will leave the company at the end of September. He joined Allstate as its chief claims officer in 2016.

"Allstate's leadership team is aligned on building a purpose-driven company that serves customers, employees, shareholders and communities, which makes leadership transitions seamless," said Tom Wilson, chair, president and CEO of The Allstate Corporation, in a statement. 

Jess Merten, who joined the insurer in 2012 and has since been in various leadership roles, will be the new chief financial officer, effective September 1.

Wilson added: "Glenn is an exceptional leader who expanded property-liability distribution, significantly lowered costs to provide greater value to customers and advanced our digital transformation. Mario's leadership capabilities and breadth of experience during his 33 years at Allstate will ensure that this momentum is maintained. Jess is ideally suited to be the Chief Financial Officer, with success in multiple financial roles and most recently leading Allstate Financial and the divestiture of the life and annuity businesses."