Jacksonville, Fla. -- (October 20, 2010) -- Fidelity National Financial, Inc. (NYSE:FNF), a leading provider of title insurance, mortgage services, specialty insurance and information services, today announced that Chief Executive Officer Alan L. Stinson has stepped down from that role, but will remain with the company as an Executive Vice President. Additionally, Chief Operating Officer George P. Scanlon has been named the company's new Chief Executive Officer.
"Al has been a vital member of our senior management team for a number of years," said Chairman William P. Foley, II. "He has decided that he would like to continue to serve as a senior executive officer, but in a less rigorous capacity than his role as CEO. We are excited to be able to turn to someone with the talent of George Scanlon to lead our company as our new CEO. He has already made a significant impact on FNF in the short time he has been COO and we expect his impact to broaden with his newly expanded leadership role. George, Al and I all look forward to continuing to work together to create significant value for our shareholders."
Stinson will remain with the company as an Executive Vice President, reporting to Chairman Bill Foley. He will focus on oversight and board membership for FNF's portfolio companies, with an emphasis on accounting and finance activities, FNF investor relations and aiding in mergers and acquisitions activities.
Fidelity National Financial, Inc. (NYSE:FNF), is a leading provider of title insurance, mortgage services, specialty insurance and information services. FNF is the nation's largest title insurance company through its title insurance underwriters - Fidelity National Title, Chicago Title, Commonwealth Land Title and Alamo Title - that collectively issue more title insurance policies than any other title company in the United States. FNF also provides flood insurance, personal lines insurance and home warranty insurance through its specialty insurance business and is a leading provider of global human resources, payroll, benefits and payment solutions through a minority-owned subsidiary, Ceridian Corporation. More information about FNF can be found at www.fnf.com.
This press release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions, including changes in the financial markets; adverse changes in the level of real estate activity, which may be caused by, among other things, high or increasing interest rates, a limited supply of mortgage funding or a weak U. S. economy; our potential inability to find suitable acquisition candidates, acquisitions in lines of business that will not necessarily be limited to our traditional areas of focus, or difficulties in integrating acquisitions; our dependence on operating subsidiaries as a source of cash flow; significant competition that our operating subsidiaries face; compliance with extensive government regulation of our operating subsidiaries; and other risks detailed in the "Statement Regarding Forward-Looking Information," "Risk Factors" and other sections of the Company's Form 10-K and other filings with the Securities and Exchange Commission.
SOURCE: Fidelity National Financial, Inc.
CONTACT: Daniel Kennedy Murphy, Senior Vice President and Treasurer, 904-854-8120, firstname.lastname@example.org