Liam E. McGee, whol is a former Chairman, President And CEO at The Hartford, died on Monday. (The Hartford)
HARTFORD, CT (AP) -
The Hartford has announced that Liam E. McGee, the former chief executive credited for guiding the financial services firm during the recession, has died.
The Hartford, Connecticut, insurance and financial services company announced Monday that McGee died Friday of cancer.
"Liam was a man of commitment, integrity and compassion, and we were fortunate to have him join The Hartford during a challenging time in the company's history. Liam made the tough decisions necessary to guide the company through this period, with an unwavering focus on what was best for our company, our customers, our employees, our shareholders and our community," Thomas A. Renyi, who is the presiding director of The Hartford, said.
Thomas A. Renyi, presiding director of The Hartford, said McGee made the "tough decisions necessary to guide the company" at the end of the recession in 2009.
The Hartford received $3.4 billion as part of the federal financial bailout in the immediate aftermath of the crisis in 2008. It repaid the money in March 2010, nine months after receiving it.
McGee was CEO from October 2009 through July 2014. He stepped down as chief executive in June 2014.
"Thanks to Liam's leadership and tireless efforts, the company has completed a strategic and financial transformation and is well positioned for future success and prosperity. His vision of The Hartford as an exceptional company, celebrated for financial performance, character and customer value will continue to be a guiding principle for all of our colleagues. We are grateful for Liam's many contributions to our company and our community along with his guidance, wisdom and friendship," The Hartford's Chairman and CEO Chris Swift said.
McGee was a native of County Donegal, Ireland, and grew up in southern California.
Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.