CEO transition: DeGiorgio promoted, Gilmore becomes Chairman; Q4 revenue up 10% to $2.4B, EPS $2.33

First American Financial Corp

Kenneth DeGiorgio promoted to CEO; Dennis Gilmore becomes Chairman, will remain employee through Sept 9, 2022.
Q4 2021 revenue up 10% to $2.4B; net income $260M ($2.33 diluted EPS) vs $280M ($2.49) YoY.
Full year 2021 record revenue $9.2B (+30% YoY); net income $1.2B ($11.14 EPS) vs $696M ($6.16).
Dividend raised 11% to $2.04 annual rate; repurchased 1.7M shares for $99M in 2021.
Commercial title revenues up 66% to $377M in Q4; full year commercial revenue record $1.0B.

item 2.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Dennis J. Gilmore

Chairman of the Board

FAF · First American Financial Corp

Effective: 2022-02-04
Successor: Kenneth D. DeGiorgio
Filed: February 10, 2022, 6:59 PM ET

Also on February 4, 2022, Dennis J. Gilmore resigned as the Company’s chief executive officer and was appointed chairman of the Board of Directors.

Role change

Kenneth D. DeGiorgio

Chief Executive Officer

FAF · First American Financial Corp

Effective: 2022-02-04
Filed: February 10, 2022, 6:59 PM ET

On February 4, 2022, the Company’s Board of Directors promoted Kenneth D. DeGiorgio to chief executive officer and appointed him as a director of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Dennis J. Gilmore was appointed as Chairman of the Board at First American Financial Corp.

Action: appointed
Role: Chairman of the Board

Exact text from the filing

Also on February 4, 2022, Dennis J. Gilmore resigned as the Company’s chief executive officer and was appointed chairman of the Board of Directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Kenneth D. DeGiorgio changed role as Chief Executive Officer at First American Financial Corp.

Action: promoted
Role: Chief Executive Officer

Exact text from the filing

On February 4, 2022, the Company’s Board of Directors promoted Kenneth D. DeGiorgio to chief executive officer and appointed him as a director of the Company.

View on SEC.gov

First American Financial Corp filing history →

Source: SEC EDGAR

accession 0001564590-22-004505

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