The directors of LTC Global Inc. have overhauled the company’s leadership team.
Thomas Skiff, the current president and chief executive officer (CEO) of LTC Global, Fort Myers, Fla., will be leaving those posts at the end of the year, the company says.
Richard Pitbladdo, LTC Global’s current chief financial officer (CFO) and original CEO, will become chairman and CEO Jan. 1, 2012.David Yost, an executive who has been the company’s treasurer since 2004, will become take over as CFO.
LTC Global is a major long-term care insurance (LTCI) distributor. The company also buys streams of commissions from insurance agents.
Mark Dinsmore, an LTC Global co-founder, says the company directors are bringing Pitbladdo back as chairman and CEO because they would like to change the company’s direction.
“The board wants the company to become more disciplined and focused on the higher margin businesses that were developed in the company’s early years,” Dinsmore says in a statement about the changes. “After briefly considering outside candidates, we quickly came to the conclusion that Richard was the right person for the job, and we are delighted that he agreed to return to the CEO role. We wish Tom the best in his future endeavors.”
Pitbladdo was the CEO of LTC Global from 2002 to 2004 and has been the CFO since 2004.
Pitbladdo has spent 15 years in the insurance industry. Before that, he was a business professor at the University of Rochester. He has a doctorate in economics from Stanford University and is an associate of the Society of Actuaries, Schaumburg, Ill.
LTC Global has acquired a number of other LTCI distributors in recent years. In October 2010, the company moved its headquarters to Fort Myers, from Medford, Ore.