Taft announces appointment to the Workers’ Compensation Oversight Commission Print E-mail
July 25, 2005

COLUMBUS — Continuing efforts to safeguard the integrity of the Bureau of Workers’ Compensation (BWC) investments, Governor Bob Taft today appointed retired business executive Michael C. Koetters, of Glendale, Ohio, to the BWC Oversight Commission. Koetters replaces George L. Forbes, who resigned.

“Michael brings a wealth of business and investment experience to the Oversight Commission and will help ensure that all BWC investments are being handled prudently and responsibly,” Taft said. “Additionally, I’m confident his experience will assist the bureau and the Management Review Team as they continue to evaluate all investment policies, procedures and controls.”

Koetters recently retired as Vice President and Chief Investment Officer of Wellpoint, Inc. and had previously worked as the Vice President and Chief Financial Officer for Cincinnati Microwave, Inc. He was Treasurer of Armco Insurance Companies and of Armco Leasing Companies. Koetters served as a lieutenant in finance for the United States Army and is a lecturer at Miami University and Sinclair Community College.

Today’s appointment supports the Governor’s efforts to enlist investment or financial management professionals to oversee the BWC investments. Additionally, the state budget included provisions that call for the treasurer of state and the legislature to appoint two investment experts to the Oversight Commission.

Last month, Taft recommended a new governance structure for the BWC, which would separate the investment responsibilities from the insurance function. The Workers’ Compensation Oversight Commission will continue with its statutory duties until a new governance structure is in place.

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Media Contact: Mark Rickel, Governor’s Office, at (614) 644-0957