Pinnacol CEO resigns, board to ‘firm up’ relationship with lawmakers

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Pinnacol Board of Directors Vice Chairman John Plotkin says he and CEO Ken Ross came to a mutual decision that now is a good time for Ross to resign from the workman’s compensation company, the Denver Business Journal reports.

Plotkin also says the company,  a quasi-governmental agency, seeks to improve its strained relationship with lawmakers who failed to approve legislation last year that would have allowed Pinnacol to operate more independently.

Ross has been with Pinnacol since 2005, and the company issued seven consecutive dividends and lower rates more than 50 percent between 2006 and 2010.

Plotkin will lead the company until a new CEO can be identified.

 In a press release, the board of directors said the marketplace is “undergoing significant change and the years ahead will be challenging. The board will seek a chief executive with the ability to forge relationships with stakeholders that will allow Pinnacol to evolve and have the operational flexibility necessary to ensure it can continue to serve policyholders, injured workers and their families.”