Tower International’s CEO resigns
Tower Group International (TGI)’s chairman, president and CEO Michael Lee has resigned from the company to “follow personal interests” with immediate effect.
He will be succeeded as chairman by Jan Van Gorder who is the lead independent director of the Company's board of directors. William Fox Jr., who has served as a member of the board of directors, is expected to assume the role of president and CEO.
Van Gorder has previously served on the board of directors of Tower Group and CastlePoint. He has held positions at Erie Insurance Group and was previously a director and chairman of the Insurance Federation of Pennsylvania.
Fox served on the board of directors of TGI from April 2006 until its merger with a subsidiary of Canopius in March 2013. He has over 40 years’ experience in the re/insurance industry and was employed by Balis & Co. and its successor, Guy Carpenter from 1962 through 1988 and again from 1992 through 1999.
Fox was also the chief executive officer of Excess Reinsurance Company. In 1988, he founded PW Reinsurance Management Company, as a joint venture with Providence Washington Insurance Company (PW Group) to underwrite reinsurance on behalf of PW Group, and was appointed president of the PW Group.
