$100K a month for interim Hanover CFO
In order to lure Eugene Bullis out of retirement to serve as interim chief financial officer for about six months, Worcester-based Hanover Insurance agreed to pay him more than $100,000 per month plus a $75,000 signing bonus, according to regulatory filings.
Bullis, who served executive vice president and CFO from 2007 until his 2010 retirement, is expected to serve as interim CFO until May 13 when the company is expected to complete the search for a permanent CFO. Bullis agreed to step into the role officially on Oct. 31, has taken over the role from CFO David B. Greenfield, who died earlier this month.
Bullis’ base salary will be paid in biweekly installments of $50,000. In addition to the $75,000 bonus he received, Bullis also was awarded 1,222 restricted shares of company stock, which he can sell starting Jan. 1, 2017, according to company documents filed with the U.S. Securities & Exchange Commission on Friday.
He has served on public and private company boards since leaving Hanover five years ago, the statement said. Prior to joining Hanover, Bullis was CFO of CNO Financial Group Inc. (formerly known as Conseco, Inc.) and Wang Laboratories Inc., among others.
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