Edward Barry Rust Jr. (born August 3, 1950) was chairman of the board of

State Farm State Farm Insurance is a group of mutual insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property and casualty insurance, property, casualty and auto i ...

Mutual Automobile Insurance Company,

Bloomington, Illinois Bloomington is a city in McLean County, Illinois, United States, and its county seat. The 2020 United States census, 2020 census showed the city had a population of 78,680, making it the List of municipalities in Illinois, 13th-most populous ci ...

. He is a former President and Chief Executive Officer of State Farm Mutual Automobile Insurance Company and State Farm Fire and Casualty Company, State Farm Life Insurance Company and other principal State Farm affiliates. Ed Rust stepped down on September 1, 2015; when Michael Tipsord was named the new President and CEO of State Farm Insurance. Ed Rust's father Edward Sr. and his grandfather Adlai Rust before him also led State Farm. A native of

Illinois Illinois ( ) is a U.S. state, state in the Midwestern United States, Midwestern United States. It borders on Lake Michigan to its northeast, the Mississippi River to its west, and the Wabash River, Wabash and Ohio River, Ohio rivers to its ...

, Rust joined State Farm in 1975. He is the son of Edward Barry Rust Sr., who was the former chief executive officer and chairman of State Farm Insurance Companies. He became president and chief executive officer in 1985 and was elected to the additional post of chairman of the board in 1987. A graduate of Bloomington High School in 1968 and then a graduate of

Illinois Wesleyan University Illinois Wesleyan University is a private liberal arts college in Bloomington, Illinois, United States. Founded in 1850, the central portion of the present campus was acquired in 1854 with the first building erected in 1856. History The in ...

in Bloomington, Rust holds both

juris doctor A Juris Doctor, Doctor of Jurisprudence, or Doctor of Law (JD) is a graduate-entry professional degree that primarily prepares individuals to practice law. In the United States and the Philippines, it is the only qualifying law degree. Other j ...

and master of business degrees from

Southern Methodist University Southern Methodist University (SMU) is a Private university, private research university in Dallas, Texas, United States, with a satellite campus in Taos County, New Mexico. SMU was founded on April 17, 1911, by the Methodist Episcopal Church, ...

Dallas Dallas () is a city in the U.S. state of Texas and the most populous city in the Dallas–Fort Worth metroplex, the List of Texas metropolitan areas, most populous metropolitan area in Texas and the Metropolitan statistical area, fourth-most ...

, Texas. He serves on the boards of directors of

Caterpillar Inc. Caterpillar Inc., also known as Cat, is an American construction, mining and other engineering equipment manufacturer. The company is the world's largest manufacturer of construction equipment. In 2018, Caterpillar was ranked number 73 on the ' ...

Peoria, Illinois Peoria ( ) is a city in Peoria County, Illinois, United States, and its county seat. Located on the Illinois River, the city had a population of 113,150 as of the 2020 United States census, 2020 census, making it the List of municipalities in Ill ...

.; and

Helmerich & Payne Helmerich & Payne, Inc. ( ) is an American petroleum contract drilling company engaged in oil and gas well drilling and related services for exploration and production companies headquartered in Tulsa, Oklahoma, with operations throughout the w ...

He is also on the board of

McGraw-Hill McGraw Hill is an American education science company that provides educational content, software, and services for students and educators across various levels—from K-12 to higher education and professional settings. They produce textbooks, ...

Companies, Inc.,

New York, NY New York, often called New York City (NYC), is the List of United States cities by population, most populous city in the United States, located at the southern tip of New York State on New York Harbor, one of the world's largest natural harb ...

is one of two co-chairs of the

Business Roundtable The Business Roundtable (BRT) is a nonprofit lobbyist association based in Washington, D.C. whose members are chief executive officers of major U.S. companies. Unlike the United States Chamber of Commerce, whose members are entire businesses, ...

and is on the Board of Directors for the

US Chamber of Commerce The United States Chamber of Commerce (USCC) is a business association advocacy group and is the largest lobbying group in the United States. The group was founded in April 1912 out of local chambers of commerce at the urging of President Willi ...

. The chairman,

Harold McGraw III Harold Whittlesey "Terry" McGraw III (born August 30, 1948) is an American businessman and is the chairman emeritus of McGraw Hill Financial (now S&P Global and formerly McGraw-Hill Companies). He served as chief executive officer of the company ...

is CEO of

companies. In June 2015 Rust announced that after 30 years he would step down as CEO of State Farm in September 2015.

Awards

In 2013, AdvisoryCloud ranked Edward Rust as the #6 CEO on their Top Chief Executive List. Edward B. Rust Jr. was inducted as a Laureate of

The Lincoln Academy of Illinois The Lincoln Academy of Illinois is a not-for-profit, non-partisan organization dedicated to recognizing contributions made by living Illinoisans. Named for Abraham Lincoln, the Academy administers the Order of Lincoln, the highest award given b ...

and awarded the Order of Lincoln (the State’s highest honor) by the Governor of

in 2003 in the area of Business.

References

External links

* {{DEFAULTSORT:Rust, Edward B. Jr. 1950 births Living people Caterpillar Inc. people People from Bloomington, Illinois American businesspeople in insurance American chief executives of financial services companies American corporate directors Bloomington High School (Bloomington, Illinois) alumni Illinois Wesleyan University alumni Southern Methodist University alumni State Farm people