NI Holdings Inc (NASDAQ: NODK) said on Friday that it had appointed Seth C. Daggett as President and Chief Executive Officer, effective December 1st.

Daggett is to succeed Cindy L. Launer, who had been in the role of Interim CEO during the Board of Directors’ search for a permanent CEO.

Most recently, Seth Daggett served as Executive Vice President, Treasurer and CFO of NI Holdings Inc.

Prior to that, Daggett served as CFO and Treasurer at RAM Mutual Insurance Company.

“I look forward to continue working alongside our talented team of employees and agents who are committed every day to serving our customers and local communities. I’m confident that we will build upon our strong and longstanding foundation in North Dakota to create lasting value for our shareholders and a new chapter of sustained growth and success,” Seth C. Daggett said in a press release.

“We are fortunate to have a proven leader in Seth, who has earned the respect of the Board, our employees, and agents for his judgment, strong leadership, extensive industry experience, and demonstrated ability to build and develop successful teams. He has deep ties not only to the Company, but also the North Dakota community, and we are confident in his ability to lead the Company forward,” Eric K. Aamundstad, Chairman of the Board, said.

Stock Performance

The shares of NI Holdings Inc (NODK) closed 1.27% ($0.21) higher at $16.70 on Nasdaq on Friday, as they extended the gains from the previous six market sessions.

The company’s total market cap now stands at $344.832 million.

The shares of NI Holdings Inc (NODK) went down 2.11% in 2023, compared with a 43.42% gain for the benchmark index, Nasdaq Composite (IXIC).

The company’s shares have risen 28.56% so far this year.

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