First Acceptance Corporation Announces Appointment of Two New Board Members
Rhea-AI Summary
First Acceptance Corporation (OTCQX:FACO) announced two board appointments effective October 6, 2025. Craig Gentry and Raimundo Ruiz join the Board; Gentry will also serve on the Audit Committee and Ruiz will serve on the Risk Committee. Following the additions, the Board totals nine directors, including seven independent members.
Mr. Gentry brings over 35 years of insurance distribution and sales leadership, including Regional Sales Manager at Progressive (1999–2021) and VP-Sales at Polly (2021–2022). Mr. Ruiz brings over 35 years in personal lines, program development and underwriting, including CEO of Patriot General (since Nov 2022) and prior executive roles at Embark General and Confie.
Positive
- Board expanded to nine directors with seven independent members
- Adds two directors with 35+ years insurance industry experience
- Gentry named to the Board Audit Committee
- Ruiz named to the Board Risk Committee
Negative
- None.
News Market Reaction
On the day this news was published, FACO declined 5.40%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NASHVILLE, TN, AL / ACCESS Newswire / October 6, 2025 / First Acceptance Corporation (OTCQX:FACO) today announced the appointment of Craig Gentry and Raimundo Ruiz to its Board of Directors effective October 6, 2025. Mr. Gentry also will serve as a member of the Board's Audit Committee, while Mr. Ruiz also will serve as a member of the Board's Risk Committee. Following these appointments, the Company's Board will be comprised of nine directors, seven of whom are independent.
Mr. Gentry has over 35 years of strategic and tactical experience managing independent agents and served as a Regional Sales Manager for Progressive Insurance from 1999 to 2021. Most recently, from 2021 to 2022, he was Vice President-Sales for Polly leading a staff of 30 who oversaw the distribution and performance of 1,800 auto dealerships. He received his BS in Marketing from Middle Tennessee State University.
Mr. Ruiz has over 35 years of experience in the personal lines insurance market focusing on program development integrating technology and underwriting discipline. He has been the Chief Executive Officer for Patriot General since November 2022, and his experience includes tenure as Chairman, President and CEO of Embark General from 2018 to 2022 and as Chief MGA Officer for Confie from 2015 to 2018. He received his BA in Economics from the University of California at Irvine.
About First Acceptance Corporation
First Acceptance Corporation is an insurance holding company headquartered in Nashville that underwrites non-standard personal automobile insurance through insurance companies known as the First Acceptance Insurance Group. We solely offer our own underwritten insurance policies through independent agents.
Additional information about First Acceptance Corporation can be found online at www.firstacceptance.com.
INVESTOR RELATIONS CONTACT:
Michael J. Bodayle
mbodayle@firstacceptance.com
SOURCE: First Acceptance Corporation
View the original press release on ACCESS Newswire
FAQ
When did First Acceptance Corporation (FACO) appoint Craig Gentry and Raimundo Ruiz to its board?
How many directors will FACO have after the October 6, 2025 board appointments?
Which board committees will the new FACO directors join?
What relevant experience does Craig Gentry bring to FACO's board?
What is Raimundo Ruiz's background relevant to FACO shareholders?
