Strategic Succession at First American Financial: DeGiorgio Takes Over as CEO While Gilmore Assumes Board Chairmanship

First American Financial Corporation (NYSE: FAF), a major player in title insurance, settlement services, and risk management solutions for real estate transactions, has unveiled a significant leadership restructuring. Kenneth D. DeGiorgio, previously serving as president, has been elevated to the position of chief executive officer, while Dennis J. Gilmore, who held the CEO role since 2010, will transition to chairman of the board.

A 23-Year Veteran Steps Into the Top Role

DeGiorgio’s appointment marks recognition of his two-decade tenure with First American Financial. His ascent through the organization spans from 1999 to the present, during which he accumulated extensive expertise across multiple divisions—from banking operations to the international segment to various corporate departments. Most recently, he steered the company’s operating divisions as president, a role he assumed in May 2021 when he took charge of title insurance, specialty insurance, and the data and analytics units.

The board, led by Parker Kennedy as lead independent director (previously serving as board chair), expressed confidence in DeGiorgio’s readiness to lead. According to Kennedy’s statement, DeGiorgio possesses “the vision, strategic insight, commitment and skill to lead our company” and will drive the firm’s continued evolution in modernizing the title insurance and settlement services sector.

Gilmore’s 12-Year Leadership Era and Lasting Impact

The outgoing CEO’s influence on First American Financial extends back to 1993 when he first joined the organization. His 12 years at the helm since 2010 have been marked by substantial achievements. Under Gilmore’s stewardship, the company built a reputation for excellence and diversity that earned it a spot on Fortune magazine’s 100 Best Companies to Work For® list for six consecutive years through 2021.

From a financial perspective, Gilmore’s era delivered notable returns to shareholders, with an annualized total shareholder return of 18.2 percent. The company’s total revenue reached $7.1 billion in 2020, reflecting the strength of the business model during his tenure.

Digital Transformation and Future Direction

A hallmark of Gilmore’s leadership was his prescient commitment to digital innovation. Long before the industry widely adopted “digital strategy” as a standard talking point, Gilmore championed aggressive investment in core data infrastructure—assets that now underpin the modern title insurance and settlement services landscape. This forward-thinking approach positions First American Financial well for continued industry leadership under new management.

DeGiorgio has signaled his alignment with this vision, emphasizing that “when we put our people first, they take care of our customers, and when we take care of our customers and run the business efficiently, we deliver superior results.” He views his appointment as “a privilege” to lead a company positioned for growth, with access to “the best people in the industry.”

Company Overview

First American Financial Corporation maintains its heritage dating to 1889 and operates across a diverse portfolio including title plant management, real property records and valuation services, home warranty products, and banking and wealth management offerings. With operations spanning the United States and international markets, the firm serves the real estate transaction ecosystem through both direct channels and agent networks. The organization’s commitment to workplace culture and shareholder value continues to define its competitive positioning in the financial services landscape.