Summary
This 8-K filing from ACE Limited (now Chubb Ltd) on February 13, 2012, primarily reports on the upcoming departures of two long-standing Board of Directors members: Bruce L. Crockett and John A. Krol. Both directors have decided not to stand for re-election at the company's 2012 Annual General Meeting. The company expresses gratitude for their extensive service and clarifies that these departures are not due to any disagreements with the company, with Mr. Krol's situation being specifically linked to the company's corporate governance guidelines regarding retirement age.
Key Highlights
- 1Bruce L. Crockett and John A. Krol will not seek re-election to the Board of Directors at the 2012 Annual General Meeting.
- 2Mr. Crockett has been a director since 1995 and served on the Risk and Finance Committee.
- 3Mr. Krol has been a director since 2001 and was a member of the Nominating and Governance Committee and Chairman of the Compensation Committee.
- 4Mr. Krol's departure aligns with the company's Corporate Governance Guidelines regarding director retirement age.
- 5The decisions for both directors to not stand for re-election were not due to any disagreements with the company.
- 6Both directors will continue to serve on the Board and their respective committees until the Annual General Meeting scheduled for May 2012.