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NODK News
NODK Events
NI Holdings CEO Seth Daggett Resigns; Cindy Launer to Take Over
NI Holdings (NODK) announced that Seth Daggett has stepped down from his role as President and CEO of NI Holdings, along with his role as a board member of the company, to pursue other opportunities, effective immediately. The Board has appointed Cindy Launer as the President and CEO of NI Holdings, effective October 10. Launer previously served as the Interim CEO of NI Holdings in the fall of 2024 and has otherwise served as an independent non-executive director on NI Holdings' board since November 2019. Formerly, Launer served as COO of AIG's (AIG) Commercial Insurance Business, before retiring in 2018. She will remain on the Board of Directors while serving as the CEO.
NI Holdings reveals $5 million stock buyback initiative
NI Holdings announced that its board of directors has approved an authorization for the repurchase of up to approximately $5M of the company's outstanding common stock. This authorization is in addition to the approximately $1.3M remaining under the board's previous repurchase authorization announced on May 9, 2022, for a total of approximately $6.3M available for the repurchase of the Company's outstanding common stock.
NI Holdings appoints Kelly Dawson as chief human resources officer
NI Holdings announced a leadership appointment. Kelly Dawson has recently joined the company as senior VP and chief human resources officer. In this newly created role, Dawson will have oversight of all aspects of human resources, including talent acquisition, employee engagement, compliance and organizational development.
NI Holdings promotes Kevin Elfstrand to chief accounting officer
NI Holdings announced several strategic leadership appointments. Kevin Elfstrand has been promoted to senior VP and chief accounting officer. He will continue to oversee the accounting department and lead external financial reporting. He most recently served as assistant VP of corporate audit. Brandon Nicol has been promoted to senior VP of reinsurance and chief underwriting officer. In this role, Nicol will lead the company's underwriting strategy and reinsurance. Chris Oen has been promoted to senior VP and chief claims officer. Oen will continue to lead the claims department. Dominic Weber has been promoted to senior VP and chief actuary. Weber will continue to lead the Actuarial department and oversee reserving, ratemaking, and predictive analytics initiatives. Doug Duncan has been recently hired as senior VP and chief information officer. In this newly created role, Duncan will lead the company's technology strategy and oversee modernization initiatives to support business growth.
NI Holdings names Seth Daggett CEO
NI Holdings announced the appointment of Seth C. Daggett as President and Chief Executive Officer, effective December 1, 2024. Daggett brings over two decades of industry experience, most recently serving as the company's Chief Financial Officer and Treasurer. Mr. Daggett succeeds Cindy L. Launer, who had been serving as Interim CEO during the Board of Directors' search for a permanent CEO, as previously announced. "It is an honor and privilege to have the opportunity to lead this outstanding organization," Mr. Daggett said. "I look forward to continue working alongside our talented team of employees and agents who are committed every day to serving our customers and local communities," said Mr. Daggett. "I'm confident that we will build upon our strong and longstanding foundation in North Dakota to create lasting value for our shareholders and a new chapter of sustained growth and success. I look forward to working closely with the Board and the Company's leadership team to help build off this foundation and lead the organization toward a successful future." Launer will return to her role as an independent non-executive director on the NI Holdings Board effective December 1, 2024. With Mr. Daggett's appointment as CEO, Matt Maki, Vice President of Financial Planning and Analysis, will assume the role of Interim CFO, effective December 1, 2024. The Company will immediately begin a search for a permanent CFO, with no definitive timeline.
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