Allstate Shakes Up Leadership: New COO & CFO Changes Revealed!
The Allstate Corporation is undergoing significant changes in its senior leadership team, effective October 1, 2025. These moves are designed to drive growth in the Property-Liability and Protection Services businesses. Mario Rizzo, formerly President of Property-Liability, has been appointed Chief Operating Officer (COO). In this role, he will oversee both the Property-Liability and Protection Services divisions.
Mario Rizzo's Extensive Experience
Rizzo brings a wealth of experience to the COO position, having spent 33 years at Allstate. His previous roles include Executive Vice President and Chief Financial Officer of The Allstate Corporation and Allstate Insurance Company. He also served as Chief Financial Officer of Property-Liability, Treasurer of Allstate, and Vice President of Allstate Protection Finance, showcasing his deep understanding of the company's operations.
Jess Merten to Lead Property-Liability
Jess Merten, the current Chief Financial Officer, will step into the role of President, Property-Liability, reporting directly to Mario Rizzo. Merten joined Allstate in 2012 as Senior Vice President of Finance, overseeing Allstate Financial. He later served as the company’s Chief Risk Officer, managing all corporate risk and return activities. His diverse background in finance and risk management positions him well to lead the Property-Liability division.
Interim CFO Appointed
With Merten's transition, John Dugenske will take on the role of Interim Chief Financial Officer while Allstate conducts an external search for a permanent replacement. Dugenske will continue in his current role as President, Investments and Corporate Strategy. He joined Allstate in 2017 as Executive Vice President and Chief Investment Officer, later expanding his responsibilities to include Chief Corporate Strategy Officer. Prior to Allstate, Dugenske held leadership positions at UBS Asset Management and Neuberger Berman.
Strategic Implications
These leadership changes reflect Allstate's commitment to its Transformative Growth initiative, which aims to increase Property-Liability market share and expand protection offerings to customers. The company believes these moves are a logical next step to complete its transformation and drive future success.