Tom Grady Fails to Land as Finalist for Citizens' President Post

The Citizens Property Insurance Corp.'s presidential-search committee has narrowed its recommendations to Barry Gilway, president and CEO of Mattei Insurance Services, and Glenn Pomeroy, CEO of the California Earthquake Authority.

Gilway and Pomeroy were the two top candidates as ranked by a search selection company from the five remaining applicants for the post.

The full board meets at 9 a.m. in a teleconference.

Tom Grady, the interim president and an applicant for the post, was not added to the list of finalists.

In March, Grady, a former state representative, stepped down as the commissioner of the Florida Office of Financial Regulation to take over at Citizens Property Insurance Corp., the state-backed insurer of last resort.

The board is seeking a replacement for Scott Wallace, who stepped down in April after nearly six years at Citizens. Wallace was paid a base wage of $343,608 in 2009.