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Article: ROBERT SCHIFF LEAVING BOARDS.(Business)
- Article from:
- The Cincinnati Post (Cincinnati, OH)
- Article date:
- November 13, 2004
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Byline: Post staff report
Robert Schiff, 81-year-old co-founder of Cincinnati Financial Corp. and Cincinnati Insurance Co., announced Friday he is retiring from the companies' boards of directors, effective immediately.
The company also said it has agreed to buy back a million of its shares from Schiff as part of its ongoing stock repurchase program that was authorized in 1999.
The Nov. 8 buyback agreement calls for the company to pay Schiff 99 percent of the stock's closing price on ...