He succeeds Francis Colalucci, who will retire as CFO effective March 15, 2010
Tower Group (Tower) has appointed William Hitselberger as senior vice president and will become chief financial officer effective March 15, 2010. He succeeds Francis Colalucci, who will retire from his position as CFO effective March 15, 2010 and from Tower’s board of directors when his term expires on May 12, 2010.
Michael Lee, president and CEO of Tower, said: “Frank has been a tremendous asset to Tower since 2002, played a key role in our initial public offering in 2004, and has successfully led our financial team over the years. We thank him for his many contributions and wish him well in his upcoming retirement. We are also pleased to welcome Bill Hitselberger to our senior management team.”
Mr Hitselberger has served as CFO of PMA Capital Corporation since June 2002. Prior to that, he served as vice president and CFO of the PMA Insurance Group from 1998 to 2002 and as vice president of the PMA Insurance Group from 1996 to 1998.
Mr Hitselberger served in various positions at the Continental Corporation from 1986 to 1996. He began his career at KPMG Peat Marwick in 1980.