NI Holdings CEO Michael J. Alexander departs; Cindy L. Launer named interim CEO

NI Holdings, Inc.

Michael J. Alexander stepped down as President/CEO and board member effective August 13, 2024.
Company expects ~$3.7 million in severance payments to Alexander subject to separation agreement.
Cindy L. Launer, board member since 2019, appointed interim CEO effective August 13, 2024.
Launer formerly COO of AIG's Commercial Insurance business; will remain on board.
Board begins search for permanent CEO with no definitive timeline.

item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Michael J. Alexander

President and Chief Executive Officer

NODK · NI Holdings, Inc.

Effective: 2024-08-13
Successor: Cindy L. Launer
Filed: August 15, 2024, 7:59 PM ET

On August 13, 2024, Michael J. Alexander, President and Chief Executive Officer of NI Holdings, Inc. (the “Company”) and the Company agreed that Mr. Alexander’s last date of employment as Chief Executive Officer was August 13, 2024.

Appointed (interim)

Cindy L. Launer

Interim Chief Executive Officer

NODK · NI Holdings, Inc.

Effective: 2024-08-26
Filed: August 15, 2024, 7:59 PM ET

On August 13, 2024, the Company determined to appoint Cindy L. Launer, a member of the Company’s Board of Directors, as the Company’s Interim Chief Executive Officer, effective August 26, 2024.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael J. Alexander resigned as President and Chief Executive Officer at NI Holdings, Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

On August 13, 2024, Michael J. Alexander, President and Chief Executive Officer of NI Holdings, Inc. (the “Company”) and the Company agreed that Mr. Alexander’s last date of employment as Chief Executive Officer was August 13, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Cindy L. Launer was appointed as Interim Chief Executive Officer at NI Holdings, Inc..

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

On August 13, 2024, the Company determined to appoint Cindy L. Launer, a member of the Company’s Board of Directors, as the Company’s Interim Chief Executive Officer, effective August 26, 2024.

View on SEC.gov

NI Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001174947-24-001013

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