State Farm President Jon Farney has been selected as the company’s next Chief Executive Officer by the State Farm Mutual Board of Directors. Farney will formally begin his role on June 1. The announcement was shared by Chairman and retiring CEO Michael Tipsord, who expressed his confidence in Farney's abilities. Tipsord stated, “Jon and I have worked together for many years. I’ve seen how much he cares about State Farm, how much he cares about the people at State Farm, how he solves problems, and how focused he is on taking care of our customers.”

Farney, who joined State Farm in 1993, has held various executive leadership roles within the company. He expressed his gratitude for the opportunity, saying, “It’s a privilege to follow Michael as CEO of this great company and lead an incredible team of more than 19,000 independent contractor agents and 65,000 employees who are committed every day to serving our customers.”

Tipsord, who has been instrumental in the growth of State Farm since his appointment as CEO in 2015, highlighted the importance of the company's mission to help people. He emphasized the company's dedication to customer service and its plans to enhance digital capabilities and leverage the talents of agents and employees nationwide.

In his address to employees and agents, Tipsord shared his optimism for State Farm's future under Farney's leadership, stating, “I know the best days for this amazing organization are yet to come.” Tipsord, who will continue to serve as Chairman of the Board, reflected on his own tenure at State Farm, which began in 1988.

Farney, a native of Illinois, holds a bachelor's degree from Illinois State University and an MBA from the University of Michigan. He has been an integral part of State Farm's strategic initiatives and is poised to lead the company into its next chapter of growth and customer service excellence.