June 2, 2010

Commercial Property Insurer FM Global Announces Pennsylvania State University President Dr. Graham Spanier Is Elected to Its Board of Directors

JOHNSTON, R.I., USA—FM Global, one of the world’s largest business property insurers, has announced that Dr. Graham Spanier, Pennsylvania State University’s 16th president, has been elected to its board of directors. Penn State is one of the largest universities in the United States. Dr. Spanier broadens the breadth of FM Global’s 14-member board, which comprises executives from the world’s most sophisticated manufacturing, distribution and service companies.

FM Global is a mutual insurance company owned and directed by its policyholders. The company, which celebrates its 175th anniversary this year, takes an uncommon approach to insurance—helping more than one of every three FORTUNE 1000 companies and similar-size organizations worldwide better understand their property threats and protect their operations from such perils.

“FM Global is pleased to welcome Dr. Spanier to our board given his vast national leadership and academic affairs experience,” said Shivan S. Subramaniam, chairman and chief executive officer, FM Global. “Penn State has been a loyal FM Global client for more than a quarter century and as a mutual insurance company owned and governed by our policyholders, Dr. Spanier’s insight will help ensure we continue to be corporately aligned with our policyholders’ needs.”

Dr. Spanier is the author of 10 books and more than 100 other scholarly works, in addition to being a sociologist, demographer and therapist. He received his Ph.D. in sociology from Northwestern University, and served numerous faculty and administrative positions at Penn State prior to becoming president in 1995. He is a recognized leader in higher education, having been awarded the TIAA-CREF Theodore M. Hesburgh Award for Leadership Excellence.

Other members of FM Global’s board of directors include:

• Shivan S. Subramaniam, chairman and chief executive officer, FM Global
• Ruud H. Bosman, vice chairman, FM Global
• Walter J. Galvin, vice chairman, Emerson Electric Co.
• Mary L. Howell, retired executive vice president, Textron Inc.
• John A. Luke Jr., chairman and chief executive officer, MeadWestvaco Corp.
• Gracia C. Martore, president and chief operating officer, Gannett Co., Inc.
• Christine M. McCarthy, executive vice president, The Walt Disney Company
• Robert J. O’Toole, director and retired chairman and chief executive officer,A.O. Smith Corp.
• John R. Paolian, chief operating officer, RR Donnelly
• David Pulman, president, global manufacturing and supply, GlaxoSmithKline
• Edward J. Rapp, group president, Caterpillar, Inc.
• James C. Thyen, president and chief executive officer, Kimball International, Inc.
• Alfred J. Verrecchia, chairman of the board, Hasbro, Inc.

More than one of every three FORTUNE 1000 companies and similar size organizations around the world turn to FM Global (www.fmglobal.com) to develop cost-effective property insurance and engineering solutions to protect their business operations from fire, natural disasters and other types of property risk. FM Global ranks 545 among FORTUNE magazine’s largest companies in America and is rated A+ (Superior) by A.M. Best and AA (Very Strong) by Fitch Ratings. The company has been named “Best Property Insurer in the World” by Euromoney magazine and “Best Global Property Insurer” by Global Finance magazine.

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