Summary
Marsh & McLennan Companies, Inc. (MRSH) announced the resignation of its Executive Vice President and Chief Financial Officer, Vanessa A. Wittman, effective in late March 2012. Ms. Wittman is departing to take a senior role at Google, a significant move given her tenure since September 2008. She will assist in ensuring a smooth transition of her duties. This departure marks a key change in the company's senior leadership, particularly within its financial operations, and investors will be closely watching the search for and appointment of her successor. In the interim, J. Michael Bischoff, currently Vice President of Corporate Finance, will assume the responsibilities of the principal financial officer. Mr. Bischoff, a long-tenured employee since 1982 with extensive experience in corporate finance, treasury, and investor relations, is well-positioned to maintain financial stability during this transition period. His background, including prior experience with the Federal Reserve System, suggests a strong command of financial matters. The company has indicated that a permanent appointment will be made in due course.
Key Highlights
- 1Vanessa A. Wittman, EVP & CFO, is resigning to accept a senior role at Google.
- 2Ms. Wittman's resignation is effective in late March 2012.
- 3J. Michael Bischoff, VP of Corporate Finance, will serve as interim principal financial officer.
- 4Mr. Bischoff has been with Marsh & McLennan Companies since 1982, holding various senior financial roles.
- 5Mr. Bischoff's responsibilities include Corporate Development, M&A, Treasury, and Investor Relations.
- 6The company will appoint a new principal financial officer.
- 7Ms. Wittman joined the company as CFO in September 2008.