Michael L. Tipsord has served as a member of the board of directors since July 2009. He is a member of the compensation committee.
Mr. Tipsord is vice chairman, president, and CEO of the State Farm Insurance Companies. Mr. Tipsord has served in various capacities with State Farm since joining State Farm as assistant tax counsel in 1988. He was named director of accounting in 1995, assistant controller in 1996, executive assistant in 1997, vice president and assistant treasurer in 1998, vice president and treasurer in 2001, and senior vice president in 2002. He was named chief financial officer in 2004 and vice chairman in 2005. In December 2014, Mr. Tipsord was named president in addition to his roles as chief operating officer, which he assumed in 2011. In September 2015, he was appointed CEO.
He is a member of the board of directors of State Farm Mutual Automobile Insurance Company, State Farm Fire and Casualty Company, State Farm Life Insurance Company, State Farm Life and Accident Assurance Company, State Farm Annuity and Life Insurance Company, State Farm Lloyds, Inc., State Farm Investment Management Corp., State Farm VP Management Corp., and State Farm Bank®, F.S.B. He is trustee of State Farm Mutual Fund Trust, State Farm Variable Product Trust, State Farm Associates’ Funds Trust, State Farm Insurance Companies Employee Retirement Trust, and State Farm Insurance Companies Savings and Thrift Trust for United States Employees.
He currently serves as a trustee of the Brookings Institution and is a member of the dean’s advisory board for the University of Illinois College of Law.
A native of Illinois, Mr. Tipsord received a bachelor’s degree from Illinois Wesleyan University and a JD from the University of Illinois at Urbana-Champaign.