Allstate announces leadership changes

NORTHBROOK - Glenn Shapiro, who has led Allstate's Property-Liability businesses since 2018, has decided to retire, the insurance company said. Mario Rizzo, currently the chief financial officer, will succeed Glenn as president, Property-Liability.

Jess Merten will assume the chief financial officer role, leveraging his broad financial and operating experience at Allstate over the last decade.

"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 Allstate Corp. "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.

Merten is ideally suited to be CFO with success in multiple financial roles, most recently leading Allstate Financial and the divestiture of the life and annuity businesses, Wilson said.