John Donahue Resigns as President and CEO; Michael Day Assumes Interim Role
John Donahue Resigns from Topa Insurance Group as President and CEO; Topa Insurance Group Board Member and Industry Veteran Michael Day Assumes Interim Role
CALABASAS, CA – December 12, 2019 – Topa Insurance Group announced today that John Donahue, President and Chief Executive Officer, is resigning from Topa Insurance Group at the end of this year. John relocated to Southern California nearly six years ago for the leading role, and his decision to resign was a personal one.
“I have had the privilege to work for the Anderson family and Topa Insurance Group for almost six years,” said John Donahue. “During this time, I have had the honor of assembling and collaborating with an amazing management team, a supportive and engaged board, and a wonderful group of hard working, dedicated employees. The commute from the Bay Area to Southern California has been particularly difficult on my family. The decision to resign came out of a commitment I made to increase the quality of my life, though I will miss all of the people I have had the pleasure of working with.”
Since joining Topa Insurance, John has made significant contributions in building Topa into a boutique property-casualty insurer. He assembled an esteemed executive team, oversaw development of new proprietary systems and dramatically increased employee engagement. In three short years he transformed the culture of the company, earning a Great Place To Work certification in 2017.
“My family and I greatly appreciate John’s many contributions in building our insurance portfolio, our employees, and our executive team,” said Bill Anderson, Executive Chairman and CEO, Topa Equities, Ltd. “We are very fortunate to have Mike Day assuming this leadership role, and the Board and senior team very much look forward to working with him.”
Michael Day, a highly respected member of the Topa Insurance Group Board of Executives, will assume the leading position of President & CEO while the parent company, Topa Equities, Ltd. begins a search to fill John’s role. Michael brings with him over 35 years of diverse financial and business experience, including 12 years of industry experience serving as the CFO of CSAA Insurance where he led the company through significant business transactions. Additional tenures include MTV Networks, The Walt Disney Company, and Deloitte.
Michael is dedicated to furthering the progress that has been made over the past six years.
“I am looking forward to working closely with the Topa team during this transition,” Michael said. “It is a strong company with a great culture, and I am honored to be able to build upon John’s leadership.”
About Topa Insurance Group
Topa Insurance Group is a boutique insurance holding company based in Calabasas, California. Topa Insurance Company, the largest of the wholly owned subsidiaries of Topa Insurance Group, provides wholesale insurance solutions. Other subsidiaries include Dorchester Insurance Company (USVI), NevPac Reinsurance (BVI), and Topa Insurance Services (USVI). Topa Insurance Group is focused on underwriting profit, operational excellence and agility for continuous growth. For more information about Topa Insurance Group, please visit www.topa-ins.com
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Topa Insurance Group
24025 Park Sorrento, Suite 300
Calabasas, CA 91302