Willis Towers Watson extends CEO contract
Willis Towers Watson has extended the contract with CEO John Haley for an additional two years in order to facilitate an orderly succession of the chief executive officer position.
Haley’s current term of the employment agreement would have expired Dec. 31, 2018.
Through the new agreement, Haley is expected to retire on Jan. 1, 2021. Haley’s base salary during the new term shall continue at the current rate of $1.2 million per annum, according to a statement.
“We are pleased to retain John Haley’s leadership as CEO of Willis Towers Watson,” said James McCann, chairman of the board, Willis Towers Watson. “Over the last several years, the company has made tremendous progress and delivered on many of the expectations of the merger. The board is pleased with our momentum and sees a vibrant future ahead.”
Haley has been with the company since 1977 and was named CEO in 1998. Under his leadership, the company went public in 2000, and completed three historic mergers, in 2005, 2010 and 2016 that formed present-day Willis Towers Watson.
Haley added, “It’s been a privilege to lead Willis Towers Watson. I’m incredibly proud of the commitment and energy demonstrated by the company’s more than 40,000 colleagues worldwide. I am grateful for the opportunity to continue to serve our clients and I am excited about our long-term prospects. I also look forward to working with the board on planning for my succession after my extended term ends so that Willis Towers Watson can continue to build on its success for years to come.”
Get all the latest re/insurance industry news with our daily newsletter - sign up here.
More of today's news
RLI absorbs Hawaii volcanic event in Q2
IAT hires reinsurance head from Aspen as Miller retires
Generali sells €409m stake in Guernsey, Irish businesses
Markel gains German insurance licence; seeks EEA growth
Liberty taps AIG duo to expand liability team
Guy Carpenter appoints new head of South East Asia and Korea
