Lake Forest, Ill.-based health/life insurer and benefits administrator Trustmark Cos. finalized a leadership transition announced last March by naming David M. McDonough to replace outgoing CEO J. Grover Thomas Jr. Thomas will continue to serve as board chairman.
McDonough, 52, joined Trustmark as president and chief operating officer in late 2002. Since then, he has had direct responsibility for key support areas and all businesses, including CoreSource, Trustmark Group Insurance, Starmark and Trustmark Voluntary Benefit Solutions. The company posted record results in 2002, and McDonough has helped the Illinois-based health and life insurer and benefits administrator continue its strong performance by leading it to record earnings each of the past two years, the company said in a statement.
Previously, McDonough was with Milwaukee-based Fortis Health, now Assurant Health, where he served as executive vice president and chief operating officer. He has nearly 30 years of experience in insurance, banking, and consumer packaged goods marketing and strategic planning. He currently serves on the board of directors of the Illinois Life Insurance Council.
Thomas will remain chairman of the board for a three-year term.
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