L. Tipsord is chairman and CEO of State Farm Mutual Automobile Insurance Company. The company announced on December 28, 2023, that Tipsord will be retiring in 2024 and will be succeeded by Jon Farney, currently the company's chief financial officer. Jon Farney is the current president and chief executive officer of State Farm Mutual Automobile Insurance Company.

By 2017, State Farms announced its plan to exit 11 facilities in the United States