Trupanion’s founder and CEO Darryl Rawlings will assume the additional role of Chair of the Board
Trupanion’s founder and CEO Darryl Rawlings will assume the additional role of Chair of the Board, effective immediately. Murray Low, PhD, the prior Chair of the Board, will assume the role of Lead Independent Director. The announcement is in alignment with the Company’s long-term succession plans and Mr. Rawlings’s intention to support a smooth CEO succession in 2025 and, if amenable to shareholders, to serve as Chair of the Board until 2035.
“I look forward to continuing to actively support Trupanion in my new role as Lead Independent Director,” said Dr. Low. “The Board and I are confident that Darryl’s long-term outlook and commitment to serving in this expanded capacity will greatly benefit the Company for years to come.”
“I want to thank Murray for his many contributions as Chair of the Board,” said Mr. Rawlings. “I look forward to working with him in his new role as Lead Independent Director and to serving in the role of Board Chair.”
Mr. Rawlings continued, “In step with our long-term succession plan, we will use this new role to ensure a smooth, efficient CEO transition over the next few years after which time, should it be amenable to shareholders, I would serve solely in the role of Board Chair through 2035 in support of the Company and my successor.”
Dr. Low has served as the Company’s Chair of the Board since 2008, and as an advisor to the Company since 2006. In his new role as Lead Independent Director, Dr. Low will assume all the duties and responsibilities of that position, including presiding over executive sessions of independent directors, leading the CEO evaluation, and serving as a liaison between the Chair of the Board and the independent directors. In addition, Dr. Low will assume the role of Chair of the Nominating & Corporate Governance Committee. Mr. Howard Rubin will assume the role of Chair of the Compensation Committee, and Ms. Jackie Davidson remains Chair of the Audit Committee.
Trupanion also announced that, following engagement with shareholders and evaluation of best practices, it plans to put to a shareholder vote at the 2023 Annual Shareholder Meeting a proposal to eliminate its staggered board and move to an annual election process. In connection with this plan, no directors would remain on the Board without being re-elected at the Annual Shareholder Meeting in June of 2023.
