Chief Executive Officer of State Farm Insurance

Topics: Corporate governance, Chief executive officer, Management Pages: 3 (943 words) Published: April 14, 2008
My topic is on the Chief Executive Officer of State Farm Insurance, Edward B. Rust Jr. Like his grandfather and father before him, Edward B. Rust Jr. became the chairman and chief executive officer of State Farm Insurance Companies. Having been associated with the company his entire life, Rust was well rounded in the mutual insurer's corporate culture, which placed a great deal of emphasis on serving policyholders, who were the legal owners of the company, and avoiding spending money unnecessarily. However, despite a lifelong association with State Farm, Rust maintained that growing up in the Midwest and learning rural values provided a moral foundation that would become more important to his achieving success as a chief executive. One of those values was respect for education. Rust, who held advanced degrees in business administration and law, became devoted to the advancement of education in America and instrumental in State Farm's contributions in this area, in terms of both money and the time of its employees. Nationally recognized as a leader of the business community’s efforts to improve the quality of education in the United States, he mostly recently served on the No Child Left Behind Commission, a bi-partisan, independent group that made recommendations to Congress and the Bush Administration on how the federal law can be improved. He is co-chairman of the Business Coalition for Student Achievement and served on President Bush’s Transition Advisory Team committee on education. He is former chairman of the Business-Higher Education Forum and of The Business Roundtable’s Education Initiative. He served on the National (Glenn) Commission on Mathematics and Science Teaching for the 21st Century. He is a director of Achieve, Inc., of the National Center for Educational Accountability, of the James B. Hunt, Jr. Institute for Educational Leadership, and of America’s Promise Alliance. He is co-chair of The Business Roundtable, chairman emeritus of the Illinois...
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