Apr. 29, 2011 (Business Wire) -- At the Annual Meeting of Shareholders of The Progressive Corporation today, Progressive's shareholders:
- elected the following two directors, each to serve a three-year term:
- Stuart B. Burgdoerfer
- Charles A. Davis
- did not approve an amendment to our Code of Regulations that would have allowed our Board of Directors to amend the Code of Regulations to the extent permitted by Ohio law,
- voted to approve our executive compensation program in an advisory vote,
- voted, in a separate advisory vote, that we should hold a vote on our executive compensation program on an annual basis, and
- ratified the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2011.
Following the Annual Meeting of Shareholders, and consistent with a majority of the shares voted, our Board of Directors determined that we will submit an advisory vote to shareholders on an annual basis to approve the compensation for our executives as set forth in our proxy statement for the year.
About Progressive
The Progressive Group of Insurance Companies makes it easy to understand, buy, and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever, and however it's most convenient for them—online at http://www.progressive.com, by phone at 1-800-PROGRESSIVE, or in-person with a local agent.
Progressive offers insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. We're the fourth largest auto insurer in the country, the largest seller of motorcycle insurance, and a leader in commercial auto insurance. Progressive also offers car insurance online in Australia at http://www.progressivedirect.com.au.
Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, the Snapshot DiscountSM, and a concierge level of claims service.
The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at (NYSE:PGR).
The Progressive Corporation
Clark Khayat, 440-395-2291