8-KLeadership ChangesRegulation FDExhibits & Filings

Chubb Ltd 8-K Report, Executive Changes (Jun 19, 2013)

Filed June 19, 2013For Securities:CB

Summary

This 8-K filing by ACE Limited (now Chubb Ltd) on June 19, 2013, primarily serves to announce a significant change in its executive leadership. The report confirms the departure of Robert Cusumano as General Counsel, with his resignation effective July 8, 2013. Mr. Cusumano will remain with the company in an advisory capacity until July 31, 2013, to ensure a smooth transition. Investors are informed of the appointment of Joseph Wayland as the new General Counsel, also effective July 8, 2013. Mr. Wayland brings a distinguished background, having most recently served in senior roles within the U.S. Department of Justice's Antitrust Division and prior experience as a partner at Simpson Thacher & Bartlett. This transition in legal leadership is a key point of interest for stakeholders, as the General Counsel plays a crucial role in the company's legal and regulatory compliance.

Key Highlights

  • 1ACE Limited announces the effective date of Robert Cusumano's resignation as General Counsel as July 8, 2013.
  • 2Robert Cusumano will continue in an advisory role until July 31, 2013, to facilitate transition.
  • 3Joseph Wayland has been appointed as the new General Counsel, effective July 8, 2013.
  • 4Joseph Wayland's extensive legal background includes serving as Acting Assistant Attorney General in the U.S. Department of Justice's Antitrust Division.
  • 5Mr. Wayland also has significant private practice experience as a partner at Simpson Thacher & Bartlett.
  • 6The press release announcing Mr. Wayland's appointment is attached as Exhibit 99.1.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce a change in executive leadership, specifically the departure of the General Counsel, Robert Cusumano, and the appointment of his successor, Joseph Wayland.

Joseph Wayland is the new General Counsel. He has a strong legal background, having served as Acting Assistant Attorney General for the Antitrust Division of the U.S. Department of Justice and was a partner at Simpson Thacher & Bartlett. He also has experience in the U.S. Air Force.

Both Robert Cusumano's resignation as General Counsel and Joseph Wayland's appointment as the new General Counsel are effective as of July 8, 2013.

Yes, Robert Cusumano has agreed to remain with ACE Limited in an advisory capacity through July 31, 2013, to assist with the transition to the new General Counsel.