Root Inc. has named CFO Dan Rosenthal the company's first-ever chief operating officer.
Rosenthal, 45, became a director in 2017 of the Columbus digital insurer and joined as CFO in November 2019. He helped lead it through several funding rounds and its October 2020 IPO.
Root will begin a nationwide search for a CFO to replace him, the company said in a release. He will also take on the role of chief revenue officer, also a first for the company.
Rostenthal's previous company was Milestone Aviation Group, an aviation finance company he co-founded in 2009 and led to a $1.8 billion acquisition by Capital in 2015. He stayed three years as Milestone CEO and chairman, and executive vice president of financing and products for GE Capital Aviation Services.
Rosenthal began his career as an attorney with Washington, D.C. law firm Williams & Connolly LLP, before spending four years with Columbus-based NetJets Inc. He has a bachelor's degree in history and international studies from Yale University and a law degree from Duke University.
In his new roles at the parent of Root Insurance Co., Rosenthal is in charge of developing strategies to grow revenue and streamline operations, encompassing underwriting, pricing, business development and marketing. His total compensation was $1.9 million in 2020, according to the company proxy.
“As we continue to connect with customers through a variety of new and existing channels, Dan will be instrumental in driving Root’s growth and success,” CEO Alex Timm said in a news release. “Dan’s rich experience as an operator with a proven track record of unlocking revenue both at Root and in prior experience will be invaluable going forward."
The company has grown to 1,400 employees with offices on Columbus Commons downtown and at Easton.
Co-founder Dan Manges stepped down as CTO in June and became an advisor. His successor, Anirban Kundu, had been senior vice president of engineering at Postmates.
Root had losses of $282 million on $158.4 million revenue through the first six months of this year. As it expands to new states, the company has changed arrangements with reinsurers, resulting in lower top-line revenue but also shielding it from more of the risk.
