Summary
This 8-K filing from Marsh & McLennan Companies (MRSH) on July 5, 2017, primarily details significant executive leadership changes within its Risk & Insurance Services segment. Peter Zaffino, a key executive serving as Chairman of the Risk & Insurance Services segment and CEO of Marsh LLC, has resigned to take a leadership role at AIG. His departure is effective after a transition period ending on July 21, 2017. Concurrently, the company announced the immediate appointment of John Doyle as the new Chief Executive Officer of Marsh LLC, succeeding Mr. Zaffino. Mr. Doyle will also continue in his current roles as President of Marsh LLC and as a member of the Company's Executive Committee, reporting directly to the President & CEO, Dan Glaser. Additionally, Peter Hearn, President & CEO of Guy Carpenter, will now report directly to Mr. Glaser and join the Executive Committee, while the position of Chairman of Risk & Insurance Services will remain vacant.
Key Highlights
- 1Peter Zaffino, Chairman of Risk & Insurance Services and CEO of Marsh LLC, is departing to join AIG.
- 2Mr. Zaffino will remain with Marsh & McLennan until July 21, 2017, to ensure a smooth transition.
- 3John Doyle has been appointed as the new Chief Executive Officer of Marsh LLC, effective immediately.
- 4Mr. Doyle will continue his existing roles as President of Marsh LLC and as a member of the Executive Committee.
- 5Peter Hearn, President & CEO of Guy Carpenter, will now report directly to the Company's President & CEO, Dan Glaser.
- 6Mr. Hearn has also been appointed to the Company's Executive Committee.
- 7The role of Chairman of Risk & Insurance Services will not be filled at this time.