Root promotes Megan Binkley and Jon Allison
Root Insurance announced the promotions of Megan Binkley and Jon Allison, and the addition of a business development leader.
Megan Binkley, formerly interim chief financial officer, has been named Chief Financial Officer. Jon Allison, formerly Root’s General Counsel, has been named Chief Administrative Officer.
Binkley joined Root in 2019 as chief accounting officer and was promoted to Deputy CFO in 2022. As Deputy CFO, Binkley led all operational elements within the finance organization through the company’s material improvement in profitability. She was named Interim CFO in March 2023. As chief financial officer, Binkley will continue to oversee finance, accounting, treasury, tax, financial reporting, corporate development, reinsurance and reserving, and investor relations. Prior to joining Root, Binkley worked as a senior manager at KPMG U.S. and KPMG Netherlands, primarily serving insurance and banking clients, including many large public companies. In connection with the promotion of Binkley, a committee of the company’s board of directors approved an increase in Binkley’s annual base salary to $425,000, effective March 1, 2023 and a target annual incentive opportunity of 75% of annual base salary under the company’s annual short-term incentive program.
As chief administrative officer, Allison will continue to oversee Root’s legal department, but will also lead the human resources organization, as well as the claims and customer service organizations. Allison joined Root in 2017 with extensive regulatory, government affairs, and policy experience operating at public insurance companies. Much of his career was spent in public service and policy advocacy, including serving as chief of staff to Ohio Governor Bob Taft and managing the state’s largest business regulatory agency.
Jason Shapiro joins Root as SVP of business development from ForeverCar where he served as president with responsibility for all operations and revenue generation. At Root, Shapiro will spearhead the expansion of Root’s embedded platform and will focus on growth initiatives. With more than 20 years of leadership and automotive experience, Shapiro brings a strong network and proven results. Prior to ForeverCar, Shapiro served as VP, OEM development at TrueCar and senior director, Enterprise Dealer Partnerships at Cox Automotive.