WASHINGTON,DC (May 11,2009) - ULLICO Inc., Labor's own financial and risk solutions provider,announced the appointment of Edward J. McElroy as interim Chief Executive Officer of the Company. Mr. McElroy replaces Mark Singleton,who is leaving ULLICO after five and a half years of service.
Mr. McElroy has been a Director of ULLICO for the past five years and the Chairman of the Audit Committee since 2005. He currently serves as President Emeritus of the American Federation of Teachers and served as that union's President from 2004 to 2008 and as its Secretary-Treasurer for 12 years prior to that. He has served on the Executive Council of the AFL-CIO,to which he was elected in 2001. A lifelong educator,Mr. McElroy currently serves on the Board of the Economic Policy Institute,the Council on Competitiveness,Education International,and the National Endowment for Democracy.
"We are delighted that Ed has taken on this role. As Chairman of the Audit Committee for the last four years,he is well versed in ULLICO's products and services and joins an experienced management team that will continue moving the business forward and building ULLICO into a world class company providing insurance and financial solutions," said Joseph Hunt,ULLICO's Chairman of the Board. "ULLICO is fortunate to have strong leadership,substantial financial resources,and a clear vision of our strategy to create value for our customers,shareholders and employees."
Mr. McElroy said,"I am pleased to have this opportunity to lead ULLICO at an important time in its history and development. Even during these uncertain economic times,the Company continues to demonstrate solid financial results and to focus its efforts on providing the best financial products and services to our customers."