CFO picks newbie as Citizens board chair
Jim Malone has been appointed to chair the board that oversees and advises the state-run insurer. Malone has never served on the Citizens Property Insurance Corp. board and he succeeds Bruce Douglas who is stepping down at the end of the month.
CFO Alex Sink announced Friday she was appointing Malone, 65, from Naples. She says he has more than forty years of experience as an entrepreneur, manager and CEO of several Fortune 500 companies. Malone is on the board of trustees for Florida Gulf Coast University.
Malone is a registered Republican as of June 2008. He gave $1,000 in direct campaign contributions to CFO Sink in 2006. By law, the CFO gets to appoint the board chairman.
“Jim’s tremendous experience leading major corporations and reputation for improving business practices will greatly benefit Florida’s insurance consumers,” CFO Sink said.
Malone is the founder and managing partner of Qorval, LLC, a Naples-based restructuring and turnaround firm with offices across the nation. He serves on the boards of directors of AmSouth and Ametek, Inc.
--Jennifer Liberto, Times Staff Writer