ATLANTA, Aug. 4, 2011 /PRNewswire/ -- Jeffrey T. Bowman, president and chief executive
officer of Crawford & Company (NYSE: CRDA; CRDB), has been
named one of Georgia's top CEOs in
the Atlanta Business Chronicle's annual ranking of public
company leaders in the state.
Based on an index that measures shareholder return for 18 months
and increases in annual revenue and net income for one year,
Crawford's recent financial
performance earned Bowman the 11th spot on the CEOs of the Year
list, published July 29. The list
includes the top 25 CEOs in Georgia.
"I am pleased to be named on the top CEO list, but the credit
for our improved financial results and shareholder return goes to
all the employees of Crawford & Company," Bowman said. "They
have worked many long hours to satisfy our clients and make the
changes that have increased our revenue and profitability over the
past two years. This is a particular achievement given the
challenges our economy and industry have presented to us. I am
proud to lead an organization of such talented professionals."
According to statistics the publication used to calculate the
rankings, Crawford's share price
increased 58 percent from January
2010 to June 2011. Annual
revenue improved by 5.97 percent and net income by 124.49 percent
in 2010.
Crawford, the world's largest
independent provider of claims management solutions, turned in 2010
financial results that reflected strong performances in its Legal
Settlement Administration and International Operations segments.
Ongoing efforts in cost control, which reduced selling, general and
administrative expenses by 3 percent year-over-year, also
contributed to those results. In May, the Company also reported
strong 2011 first quarter results; revenues were up 21 percent and
net income increased by 298 percent.
Since becoming Crawford's
president and CEO in January 2008,
Bowman, who has worked in the insurance industry for some 30 years,
has overseen a number of transformative initiatives in the
organization. His first priorities focused on expense management
and working capital, creating a pay-for-performance culture in the
organization, inspiring operational efficiency and providing
excellent results to clients. He also established a strategic
agenda for Crawford, instituting a
new planning process with his worldwide management team. That
strategic agenda has included development of a global technology
roadmap to guide Crawford's
increased investments in advanced technology.
Bowman is a member of the Executive Committee and Board of
Trustees of the Institutes, which develops courses for and confers
the Chartered Property Casualty Underwriter (CPCU) certification.
He also contributes a quarterly column on insurance issues and
trends, "Global View," to Claims Advisor magazine and has
been a featured speaker at a number of insurance and leadership
conferences.
Crawford will issue its second
quarter earnings release Monday, Aug.
8, at 7:00 a.m. Eastern Time.
The Company will hold a conference call to discuss its quarterly
earnings and other developments at 3 p.m.
Eastern Time that day. For more information, visit the
Investor Relations page of Crawford's website.
About Crawford
Based in Atlanta, Ga., Crawford
& Company (www.crawfordandcompany.com) is the world's largest
independent provider of claims management solutions to the risk
management and insurance industry as well as self-insured entities,
with an expansive global network serving clients in more than 70
countries. The Crawford System of Claims Solutions(SM) offers
comprehensive, integrated claims services, business process
outsourcing and consulting services for major product lines
including property and casualty claims management, workers
compensation claims and medical management, and legal settlement
administration. The Company's shares are traded on the NYSE under
the symbols CRDA and CRDB.
SOURCE Crawford & Company