* Says post-surgical test confirms tumor was completely
* CEO McGee to continue low-dose chemotherapy and radiation
* To return to office on Monday
Jan 11 Hartford Financial Services Group Inc
said Chief Executive Liam McGee underwent a successful
brain surgery to remove a small tumor.
McGee, 57, had displayed no symptoms previously, and
post-surgical tests indicated that he was cancer-free, the
insurance company said.
"In an abundance of caution, the doctors and I have agreed
on a low-dose chemotherapy and radiation treatment and we expect
minimal side effects," McGee said in a statement.
McGee, who was working from home, will return to office on
Monday. The company declined to provide additional details on
Hartford hired McGee from Bank of America Corp in
2009, four months after the insurer was forced to accept a $3.4
billion government bailout due to bad bets on bonds. McGee
headed Bank of America's consumer and small business banking
unit for five years.
McGee restructured the 200-year-old insurer in 2010 into
three main units -- consumer markets, commercial markets, and
wealth management -- to reduce complexity of the business.
The insurer underwent another round of restructuring last
year under pressure from famed hedge fund manager John Paulson.
Paulson screamed at the management on an earnings call in
February to do something "drastic" to boost its industry-low
Hartford has since sold off its life insurance, retirement
plan and individual annuities units.
Shares of the company closed at $23.90 on the New York Stock
Exchange on Friday.