BREAKING NEWS: Federated’s chairman to retire at end of year

One of the biggest announcements was left to the end of the annual meeting of policyholders of Federated Insurance Company Tuesday morning. Long-time chairman Jeffrey Fetters announced he’s stepping down to retire at the end of 2024.

When Fetters steps away, it will end his 45-year career with Federated Insurance. He has spent the past 12 years as the company’s chairman.

At Tuesday’s meeting, Fetters said the Board of Directors has appointed current President and CEO Nicholas Lower to become the next chairman.

“The Board of Directors and I have complete confidence that Nick will be an outstanding chairman and is well equipped to set forth the vision and steer our company to new heights,” Fetters said.

The Times will have more on Fetters’ announcement online Wednesday afternoon and in next week’s print edition.