The MEDC's current CEO and president, Don Jakeway, a former Toledo, OH economic development official who joined the organization about two years ago, will stay on with the MEDC and focus on recruiting international companies to Michigan and working high-profile events such as include the Forbes CEO Conference on Mackinac Island in September and the National Football League Super Bowl in Detroit next February.

"We are taking the nation's premier economic development organization to the next level by placing Jim Epolito at the helm," says Matthew Cullen, the top economic development executive at General Motors who also serves as chairman of the MEDC Executive Committee. "Epolito is a proven business leader who will ensure that this highly regarded organization continues its outstanding track record."

Epolito, 50, has served as president and CEO of Accident Fund insurance for the past 10 years. During that time, he grew the business from a $117-million single-state insurance provider to one serving businesses in 40 states and generating more than $500 million annually. Last year, it was the 15th largest workers compensation insurance company and the ninth most profitable of all insurance companies. Epolito previously headed the Blue Care Network-Health Central division of Blue Cross-Blue Shield of Michigan. Cullen also says the state is fortunate to be able to continue to keep Jakeway involved in MEDC.