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How State Farm's CEO is navigating the insurance titan and its 77,000 employees through a 'fundamental societal reset'

How State Farm's CEO is navigating the insurance titan and its 77,000 employees through a 'fundamental societal reset'
State Farm



It can be lonely at the top, particularly as CEOs are now forced to make swift, often devastating, decisions about the future of their companies amid the coronavirus pandemic.




But it's not all doom and gloom. The pandemic is also bringing about countless tales of innovation and resilience.




The full scope of the crisis, however, remains unclear. That makes it difficult for CEOs, who are used to planning well into the future, to parse out even what the next few months will look like.




"We're going to have a fundamental societal reset and that's going to impact what our customers' expectations are," State Farm CEO Michael Tipsord told Business Insider.




"The magnitude of that and the permanency of that are questions I do not know the answers to," he added.




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It's a challenging time to be a CEO.
The cratering economy and ongoing pandemic is forcing companies to make tough decisions on operations — from pay cuts to mass layoffs.
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