Summary
Chubb Limited (CB) filed an 8-K on May 1, 2020, to report a key executive change. Paul B. Medini, the company's Chief Accounting Officer, intends to retire. Mr. Medini will step down from his role effective May 1, 2020, but will remain with Chubb until August 2020 to ensure a smooth transition. He has held the position of Chief Accounting Officer since October 2003. Concurrently, Chubb announced the appointment of Annmarie Hagan as Vice President, Chubb Group and Chief Accounting Officer, also effective May 1, 2020. Ms. Hagan brings extensive experience to the role, with over 35 years in insurance, accounting, and financial management. Her prior experience includes serving as Global Controller for Chubb since 2016, and executive leadership roles at Cigna Corp. and WellPoint Inc. This transition appears to be well-planned, with an experienced internal candidate stepping into the critical accounting leadership position.
Key Highlights
- 1Paul B. Medini, Chief Accounting Officer, to retire.
- 2Mr. Medini will remain with Chubb until August 2020 to assist with transition.
- 3Annmarie Hagan appointed as the new Chief Accounting Officer, effective May 1, 2020.
- 4Ms. Hagan will also serve as the company's principal accounting officer.
- 5Ms. Hagan has over 35 years of experience in insurance, accounting, and financial management.
- 6Ms. Hagan has held significant roles within Chubb since 2014, including Global Controller.
- 7The company issued a press release on May 1, 2020, to announce these changes.