Travelers 2010 Annual Report Download - page 264

General Counsel. Prior to that, Mr. Spence served in several leadership positions in the Company’s
Legal Services group, and from April 1998 until the Merger, in SPC’s Legal Services Group.
Mr. Spence joined SPC in April 1998, upon SPC’s merger with USF&G Corporation, where he had
served as legal counsel.
Doreen Spadorcia, 53, has been Chief Executive Officer—Personal Insurance and Executive Vice
President—Claim Services, since July 15, 2009. From March 2, 2005 to July 15, 2009, she was Executive
Vice President—Claim Services. Prior to that, she was President and Chief Executive Officer of Bond
operations for the Company since the Merger and, before that, for TPC since June 2002. From 1994 to
May 2002, she managed the TPC Bond claim operation and served as General Counsel of that business
unit. She joined TIGHI in 1986 as a claim attorney.
Maria Olivo, 46, has been Executive Vice President—Treasurer since June 2009 and head of
Strategic Development since July 2010. Prior to that, she was Executive Vice President—Market
Development since October 2007. Since joining the company in 2002, Ms. Olivo has held a number of
executive positions, including leading Corporate Development, Investor Relations and Corporate
Communications. Prior to joining Travelers in 2002, Ms. Olivo was deputy head of Strategic
Investments at Swiss Re Capital Partners from April 2000 to June 2002. Prior to that, she was a
director in Salomon Smith Barney’s Investment Bank.
William E. Cunningham, Jr., 45, has been Executive Vice President—Business Insurance since
March 1, 2010. Prior to that, he served as Senior Vice President—Business Insurance where he was
responsible for Commercial Accounts, Construction, Technology, Public Sector Services, Global
Accounts, Excess Casualty and Oil & Gas since September 2007. In July 2006, he was named President
and CEO of Commercial Accounts. He had been promoted to President of National Accounts in 2005
and President of Travelers Construction in April 2001. Prior to that, Mr. Cunningham served as
Regional Vice President for the Northeast Region of National Accounts since July 1997, after serving
as Managing Director of the Northeastern territory for National Accounts since 1996. He began his
career with Travelers in 1987 as an account executive in the Commercial Accounts marketing
department in Albany, New York.
John P. Clifford, Jr., 55, has been Executive Vice President—Human Resources since May 2007,
and before that he was Senior Vice President—Human Resources of the Company since the Merger,
and from February 2002 until the Merger, he held that same office at SPC. From January 1994 through
February 2002 he managed compensation and benefits for SPC and was named Vice President in 1999.
He joined SPC in 1984 as a compensation analyst.
Code of Ethics
The Company has adopted a Code of Business Conduct and Ethics (Code of Ethics) that applies
to all employees, including executive officers, and to directors. The Code of Ethics is available on the
Corporate Governance page of the Company’s internet website at www.travelers.com. If the Company
ever were to amend or waive any provision of its Code of Ethics that applies to the Company’s
principal executive officer, principal financial officer, principal accounting officer or any person
performing similar functions, the Company intends to satisfy its disclosure obligations with respect to
any such waiver or amendment by posting such information on its internet website set forth above
rather than by filing a Form 8-K.
The following sections of the Company’s Proxy Statement relating to its Annual Meeting of
Shareholders to be held May 26, 2011 are incorporated herein by reference: ‘‘Item 1—Election of
Directors—Nominees for Election as Directors,’’ ‘‘Section 16(a) Beneficial Ownership Reporting
Compliance’’ and ‘‘Board of Directors Information.’’
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