Summary
Marsh & McLennan Companies, Inc. (MRSH) announced significant leadership changes on April 20, 2011, impacting key segments of its business. Daniel S. Glaser has been appointed to the newly created role of Group President and Chief Operating Officer. This move represents a promotion for Mr. Glaser, who previously led Marsh Inc. as its Chairman and CEO. In conjunction with these changes, the company has also appointed new leaders for its Marsh and Guy Carpenter segments. Peter Zaffino will now serve as President and Chief Executive Officer of Marsh, taking over from Mr. Glaser. Alexander S. Moczarski has been named President and Chief Executive Officer of Guy Carpenter, succeeding Mr. Zaffino. To align with these increased responsibilities and as a retention incentive, the Company has granted stock units valued at $1 million each to Messrs. Glaser, Zaffino, and Moczarski, which are set to vest in May 2014.
Key Highlights
- 1Daniel S. Glaser appointed to newly created Group President and Chief Operating Officer role.
- 2Peter Zaffino named President and Chief Executive Officer of Marsh.
- 3Alexander S. Moczarski appointed President and Chief Executive Officer of Guy Carpenter.
- 4The appointments reflect a restructuring and promotion within senior leadership.
- 5Key executives (Glaser, Zaffino, Moczarski) received $1 million stock unit grants each.
- 6Stock unit grants are scheduled to vest on May 15, 2014, indicating a retention incentive.