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CNA Financial CEO to retire

CNA Financial Corporation has announced the retirement of Stephen Lilienthal as the chairman and CEO of the company, effective June 8, 2009.

Thomas Motamed will succeed Mr Lilienthal as chairman and CEO of CNA. Mr Motamed will join CNA following 31 years at The Chubb Corporation. Since 2002, he has served as vice chairman and chief operating officer of The Chubb Corporation and president and chief operating officer of Chubb & Son.

James Tisch, a director of CNA, said: We are very pleased to have a proven insurance professional with Tom’s experience and leadership qualities taking the helm at CNA. I want to highlight and acknowledge Steve Lilienthal’s ongoing accomplishments. Under Steve’s leadership, CNA completed a very successful turnaround.