Selective Insurance Group on Wednesday said Mark Wilcox, executive vice president, chief financial officer, has resigned, effective Nov. 3, to become CFO at another financial services company. Wilcox will continue in his current position until after Selective reports third-quarter earnings on Nov. 1 and holds its earnings call on Nov. 2.
Anthony “Tony” Harnett, senior vice president, chief accounting officer, will then assume the additional role of interim CFO until a permanent successor is appointed. Selective has initiated a global search process to identify a new CFO.
“Mark has been my trusted partner and an excellent leader of our finance team for nearly seven years,” John Marchioni, Selective’s chairman, CEO and president, said. “On behalf of the board of directors and our entire team, I thank Mark for his many contributions. Throughout his time with Selective, we have continued to deliver consecutive double-digit non-GAAP operating returns on equity. We are pleased that he will assist us in a seamless transition and wish him well in his future endeavors.”
Wilcox said: “It has been an honor to be a part of Selective and work alongside John and such a talented team. With its strong financial profile and flexibility, I am confident that Selective is well-positioned to continue delivering profitable growth over the long term. I look forward to watching its continued success.”
A seasoned executive with nearly 30 years of finance and accounting experience, Harnett has served as Selective’s chief accounting officer since 2016. He has extensive knowledge of the company and its financials.
Harnett joined the company in 1999 as a senior accountant and held various finance positions before he was promoted to vice president, controller, in 2008 and senior vice president, corporate controller, in 2010. He has extensive experience in auditing, financial analysis and reporting, and risk management. Harnett previously held financial roles at Toys “R” Us and Deloitte. He earned a bachelor’s degree in accounting from Albright College in Pennsylvania and is a member of the American Institute of Certified Public Accountants and the Pennsylvania Institute of Certified Public Accountants.