GEICO Management Team
Tony Nicely – Chairman, President and CEO, GEICO
Lou Simpson – President and CEO, GEICO Capital Operations
Thomas A. Wells – Senior VP and CFO
David L. Schindler – Senior VP, Human Resources
Tony Nicely, who has been CEO of GEICO since 1993 moving quickly through the ranks. He started at GEICO in 1961, at the age of 18, as a clerk. In 1972 he became the company’s youngest elected officer as Assistant Vice President (in charge of underwriting sales and service). In 1976, however, GEICO was on the verge of bankruptcy, as a result of unwise policies of expansion (high risk drivers), lack of cost controls, and inadequate pricing. He then stated that the most important possession any company or person can have is their reputation. Once a reputation is lost, it cannot be regained. GEICO lost its reputation in 1976. The company lost about half of its customers and was forced to layoff half of its employees. Tony hates laying off people, especially those he has known for years and who were doing very good work.
Tony Nicely loves his job at GEICO, his family, and the people around him. He has four rules that he recommends for everyone to follow:
(1) Never be questioned for lack of integrity or poor intentions.
(2) Work harder than anyone else (Take pride in being the best).
(3) Teamwork and people are important in moving up in your career.
(4) Be lucky. (Tony considers himself to have been extremely lucky in his career & life.)
Lou Simpson has served as President and CEO, Capital Operations, of GEICO Corporation since May 1993, having previously served as vice chairman of the board from 1985-1993. Simpson’s career at GEICO began in 1979 as senior vice president and chief investment officer. Earlier in his career, Simpson was president and chief executive officer of Western Asset Management, a subsidiary of the Los Angeles-based Western Bancorporation. He also had been a partner at Stein Roe and Farnham, a Chicago investment firm, and an instructor of economics at Princeton University.