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State Farm CEO exiting after 30 years at the top

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Edward Rust Jr. is stepping down as CEO of State Farm Insurance after 30 years leading the nation's largest home and auto insurer, according to Crain's Chicago Business.

Chief Operating Officer Michael Tipsord will succeed Rust in September.

Rust, 65, will stay on as chairman of the company's board of directors.

Read more from Crain's Chicago Business.

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