CEO since July 2008: Terrence Cavanaugh
Since taking the helm two years ago, Erie chief Terrence Cavanaugh -- the first non-family member to run Erie in the company's 85-year history -- has had to battle internal complacency (he told shareholders the company's biggest threat "is thinking that time is on our side") and mended fences with a major shareholder, who had objected to the company's direction.
No matter. Propelled by investment gains, revenues rose 42% last year, to $4.3 billion, and profits were up 57%, to $108 million.
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