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Scott Goodell to Retire in May 2020, Tommy Bolton to Succeed Goodell as President and CEO

FOR IMMEDIATE RELEASE

TAMPA, Fla., Aug. 20, 2019 – Energy Insurance Mutual Limited announced today that its President and CEO, Scott Goodell will retire in May 2020, after more than ten years with the company. Tommy Bolton, EIM’s Vice President and Chief Financial Officer, will succeed Goodell as President and CEO.

“Scott has been a great advocate and steward of the mutual concept since joining the company in January 2010. Through his leadership, and with the support and assistance of the entire EIM team, surplus has almost doubled, distributions to members have approached $250 million, and claim payments totaled $1.5 billion,” said Carter Reid, EIM Chairman “More importantly, Scott has championed EIM’s founding principles of member focus, financial stability and commitment to excellence as articulated by EIM’s original members more than 30 years ago.”

“I am proud to be a part of the EIM family and have thoroughly enjoyed working with my fellow employees, the Board, Insurance Advisory Committee, member company representatives and the many business partners who have been so instrumental in EIM’s success over the years. My time at EIM has been rewarding, meaningful and, most of all, fun. I have every confidence that Tommy will continue to drive EIM forward, always focused on the best interests of our members and the pursuit of excellence,” Goodell said.

The EIM Board engaged a national search firm in late 2018 to identify and evaluate qualified candidates for EIM’s President and CEO position as part of its ongoing succession planning process. The Board unanimously selected Bolton to succeed Goodell. Bolton has served as EIM’s Vice President and Chief Financial Officer since 2011. He joined EIM in 2009 as Controller after a career in finance and accounting, including as a principal and certified public accountant with Johnson Lambert. EIM has begun a search to fill the Vice President and Chief Financial Officer position.

“As CFO, Tommy spearheaded numerous advances in enterprise risk management, investment strategy and information technology. His leadership has helped make EIM a stronger, more stable organization, well-positioned to understand and manage the risks inherent in its business. The Board has the utmost confidence in Tommy and believes that he is the right person to sustain the positive momentum that EIM has experienced over the last ten years,” Reid said.

“I could not be more energized for the opportunity to lead EIM into the future, and I am committed to carrying on the legacy created by those who came before me,” Bolton said. “We have a wonderful team at EIM. Together, I am certain that we will continue to excel in meeting the risk management needs of our member companies.”

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