Austin, TX – Texas Mutual recently announced that the company’s President & Chief Executive Officer, Richard “Rich” Gergasko, has shared with the Board of Directors his intention to retire in early 2023. Gergasko joined Texas Mutual in 2013.
“We are grateful to Rich for his steadfast leadership, especially during the last few years when our employees, agents and policyholders looked to him for stability during the COVID-19 pandemic,” Ron Simmons, chairman, Texas Mutual Board of Directors, said. “Rich’s accomplishments during his tenure at Texas Mutual are numerous. I am particularly proud of the excellent financial foundation he has built that is recognized through an A rating from AM Best. I also appreciate his work to create a stronger, safer Texas and am confident his efforts will have a lasting impact across our state and the industry.”
Gergasko implemented new initiatives to keep employees and policyholders safe, including a “no-use-while-driving” cell phone policy for all employees. Among other accomplishments, in 2016, Gergasko was the recipient of the Austin Business Journal’s Best CEO of the Year Award in Central Texas.
“When I think about the last 10 years at Texas Mutual, there’s a lot to be proud of,” Gergasko said. “The consistent theme throughout has been our commitment to being a stable force for good across the state of Texas. Texas Mutual’s philanthropic program is second-to-none, making a difference in communities across the state with safety awards, scholarships, philanthropic grants and safety training grants. In 2022 alone, we are investing $12 million in philanthropic funding across Texas.”
During his tenure with Texas Mutual, Gergasko served in various leadership positions for nonprofit and industry organizations, including chair of the American Heart Association Board of Directors in Austin; chair of the Austin Heart and Stroke Walk; member of United Way for Greater Austin’s Campaign Cabinet, which engages local business leaders to fight poverty; founding organizer of Texas Mutual’s cycling team for the MS 150; Executive Committee member of the Texas Business Leadership Council; member of the Austin Area Research Organization; member of the Insurance Industry Charitable Foundation and more.
Prior to joining Texas Mutual, Gergasko served in various leadership positions at SeaBright Insurance Company in Seattle. He has a bachelor’s degree in statistics from Rutgers University.
Texas Mutual’s Board of Directors is being assisted by the executive search and leadership advisory firm Russell Reynolds Associates, which will explore external and internal options.
Source: Texas Mutual