- The board of First American Financial reshuffled the leadership deck at the $6 billion title insurance and settlement firm after its CEO was arrested and charged with misdemeanor assault. The CFO is stepping in to fill the CEO position, and the board chairman will dive in as a new executive chair at First American. Ousted CEO Kenneth D. DeGiorgio—whose lawyers say he will be cleared of wrongdoing—will still collect millions in severance as detailed under his contract, the company told investors this month.
The CEO of First American Financial was summarily ousted after he was arrested and charged with assault in San Juan this month. Kenneth D. DeGiorgio was traveling aboard a Virgin Voyages Caribbean cruise ship with his wife when he was accused of choking another passenger in a maritime incident that was captured on surveillance footage and viewed by security officers, according to an FBI affidavit.
