Rosati retiring July 1 from Beacon Mutual Insurance

Posted 9/29/16

The Beacon Mutual Insurance Company has announced that President & CEO James V. Rosati will retire effective July 1, 2017 after more than 10 years at the helm of Rhode Island's largest workers compensation insurer. It has been an honor leading Beacon"

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Rosati retiring July 1 from Beacon Mutual Insurance

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The Beacon Mutual Insurance Company has announced that President & CEO James V. Rosati will retire effective July 1, 2017 after more than 10 years at the helm of Rhode Island’s largest workers compensation insurer. ”It has been an honor leading Beacon Mutual and working side by side with such an incredibly dedicated team of employees,” said Rosati in a statement. “I am proud of our accomplishments over the last decade, providing value for our policyholders each and every day while treating injured workers with dignity and respect. Beacon is a financially rock solid company and will continue to fulfill its mission by being a stabilizing force in the workers comp market and continuing to guarantee workers compensation coverage to any Rhode Island business.” ”Under Jim’s leadership, Beacon Mutual has demonstrated a commitment to Rhode Island businesses, workers, and families,” said Rhode Island Governor Gina M. Raimondo. “By educating employers and workers through a robust training and prevention program, Beacon is helping to rebuild a healthy economy and workforce. I wish Jim all the best in retirement and look forward to working closely with Beacon’s leadership team throughout this transition.” Beacon’s board of directors established a comprehensive and objective succession plan working in concert with national consulting firm The Hay Group. Through that process, Beacon’s board chose Chief Operating Officer Brian J. Spero to succeed Rosati as president and CEO, and current Vice President of Information Systems Rajani Mahadevan as the incoming COO. Spero has been with the company for eight years, four of those as COO; Mahadevan for 16 years.

In 2007, the Beacon board of directors appointed Rosati president & CEO. Prior to joining Beacon, Rosati served as an investment banking partner with Riparian Partners and chairman of the board of directors of the Rhode Island Airport Corporation. He was a chief executive of Cookson Groups Worldwide Telecommunication Division and served as chairman, president and CEO of Old Stone Bank. Rosati is a trustee and member of the board of trustees at Bryant University. He serves on the board of the Greater Providence Chamber of Commerce, Delta Dental and a number of charitable and nonprofit organizations.

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