CA State Fund Says Goodbye To CFO

Sacramento, CA (CompNewsNetwork) - Jay Stewart, the Chief Financial Officer (CFO), is leaving State Fund. Jay accepted a new position as CFO of Redwood City-based CAMICO Insurance Company.

“Jay has contributed significantly to State Fund's successful transformation over the past two years,” said Tom Rowe, CEO and President. “He has led the charge to revamp State Fund's financial reporting process, bringing it more into line with standard industry practices while creating greater transparency and line-of-sight for the Board of Directors. Jay also provided important leadership in restructuring our financial services function to better meet the financial needs of the organization.”

Prior to joining State Fund, Jay worked for both the Texas and Mississippi Public Utilities Commissions, Johnson & Higgins Insurance Brokers, Argonaut Insurance Company and Subsidiaries, California Casualty Management Company, and Majestic Insurance Company.

An executive search for a permanent CFO replacement has begun.  Meanwhile the Board of Directors ratified the engagement of Daniel J. Sevilla as State Fund's interim CFO.

Sevilla is a highly accomplished senior finance executive, most recently of the Automobile Association Inter-Insurance Bureau in Walnut Creek, where he served as Vice President Financial & Operational Planning & Analysis.

Sevilla's experience and expertise will provide proven financial stewardship as we search for a new CFO.

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