Wole Coaxum informed Selective Insurance Group, Inc. of his resignation from the Board of Directors, effective immediately. Mr. Coaxum's decision was made to allow him to focus his full attention on his founder role at Mobility Capital Finance Inc.
The company stated that Mr. Coaxum's resignation was not due to any disagreement with Selective regarding its operations, policies, or practices. This clarifies that the departure is for personal business reasons rather than internal issues.
With Mr. Coaxum's resignation, the Board size has been fixed at 11 directors, with 10 of these directors being independent. John J. Marchioni, Chairman, President and Chief Executive Officer, expressed gratitude for Mr. Coaxum's contributions and unique perspective during his five years of service.
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