President and CEO, Progressive
When the naming rights for Jacobs Field went up for grabs, it became a water-cooler topic to predict which stalwart Cleveland business would go after it. In the end, it wasn’t KeyBank or Sherwin-Williams who signed on to pay $3.6 million a year to put its logo on The Jake’s front gate, but Progressive, the unorthodox Mayfield Village-based insurance company that has risen to third in its industry. Like the corporation he leads, Renwick is anything but stuffy. He’s the CEO who doesn’t wear suits, drives to work in a 20-year-old Land Cruiser and races cars in his free time. Yes, Progressive had a tough 2007. With profits down 28 percent and 341 people laid off, Renwick kept company morale up by setting aggressive goals and landing the Indians deal. As for those who criticize spending money on naming rights, just ask Quicken Loans founder and Cavaliers owner Dan Gilbert if being associated with a winner is good for business.
