James A. Flick Jr., executive vice president and former chief financial officer of USF&G; Corp., has taken early retirement from the giant insurer, furthering a yearlong turnover of the corporation's top executives.
Mr. Flick, 56, will remain a director of the company, USF&G; said in its announcement Tuesday.
"The company has a new focus, and when I joined USF&G; it was with a company that had planned a lot more diversification and had a little bit different direction," he said yesterday. "Much of the direction of the company had been determined, and it was an opportunity for me to do something else."
Mr. Flick said he had been discussing his departure with USF&G; for about a month and chose early retirement in mid-March. He said that he had not decided what to pursue next but that there were "a couple of opportunities" he declined to name. "First I'm going to stop and catch my breath."
The former managing partner of the Baltimore office of Ernst & Whinney -- now called Ernst & Young -- Mr. Flick joined USF&G; in 1988 asexecutive vice president after spending 10 years with the international accounting firm.
USF&G;, under the leadership of newly appointed chairman and chief executive, Norman P. Blake Jr., has seen a number of changes within its top ranks in recent months.
Days after Mr. Blake joined the company in late November, the acting president of USF&G;'s life insurance subsidiary stepped down. And two months ago, USF&G; brought in two new executives and promoted two others as part of the company's continuing restructuring. At that time, Mr. Flick was replaced as the chief financial officer.