Allstate 2008 Annual Report Download - page 45

Named Executives
There have been some changes to our named executives since 2007. Thomas J. Wilson, George E.
Ruebenson, and Eric A. Simonson continue to be named executives for 2008, although Mr. Simonson retired on
December 31, 2008. Michele C. Mayes, our general counsel, and Don Civgin, our chief financial officer, joined
Allstate on November 12, 2007 and September, 8, 2008, respectively. Both are named executives for 2008.
Danny L. Hale, our former chief financial officer, retired on March 31, 2008, and Samuel H. Pilch, our controller,
was our acting chief financial officer from March 3 to September 8, 2008. Because Messrs. Hale and Pilch held
positions as chief financial officers during 2008, both are named executives for 2008. Edward M. Liddy, our former
chairman, retired on April 30, 2008 and is not a named executive for 2008. This CD&A describes the executive
compensation program at Allstate and specifically describes total 2008 compensation for the following named
executives:
●Thomas J. Wilson—Chairman, President and Chief Executive Officer
●Don Civgin—Vice President and Chief Financial Officer
●Michele C. Mayes—Vice President and General Counsel
●George E. Ruebenson—President, Allstate Protection
●Eric A. Simonson—President, Allstate Investments, LLC (retired December 31, 2008)
●Danny L. Hale—former Vice President and Chief Financial Officer (retired March 31, 2008)
●Samuel H. Pilch—former Acting Vice President and Chief Financial Officer (for the period of March 3, 2008
through September 8, 2008) and Controller
CEO Compensation
As stated in its charter, one of the Compensation and Succession Committee’s most important responsibilities
is making recommendations to the Board regarding the CEO’s compensation. In making these recommendations,
the Committee, in conjunction with the independent Board members, evaluates the CEO’s performance. Before the
beginning of the year, the Committee recommends the goals against which the CEO’s performance for the year
will be evaluated. With respect to these goals, the Board discusses the Committee’s recommendations in executive
session, without the CEO present. The Committee analyzes competitive compensation data provided by its
executive compensation consultant and company performance data provided by senior management. It reviews
the various elements of the CEO’s compensation in the context of a total compensation package, including salary,
annual cash incentive awards, long-term cash incentive awards, and equity incentive awards (including prior
awards under equity compensation plans), and accrued pension benefits—as well as the value of Allstate stock
holdings. The Committee presents its recommendations to the Board in the context of total compensation. In this
manner, the Committee fulfills its oversight responsibilities and provides meaningful recommendations to the
Board for its consideration.
Overview of Compensation Practices
Our Compensation and Succession Committee reviews the design of our executive compensation program on
an annual basis and performance and goal setting within this design throughout the year. As part of that review,
the Committee benchmarks against the following peer insurance companies for executive pay and performance
comparisons:
Peer Insurance Companies
The Chubb Corporation MetLife Inc.
Cincinnati Financial Corporation The Progressive Corporation
CNA Financial Corporation Prudential Financial, Inc.
The Hartford Financial Services Group, Inc. Safeco Corporation*
Lincoln National Corporation The Travelers Companies, Inc.
* Acquired by the Liberty Mutual Group in 2008.
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Proxy Statement