Joseph J. Plumeri, the Chairman and CEO of international insurance broker Willis Group Holdings Limited, has received a strong vote of confidence in his leadership, as the company announced that it has amended his five-year employment agreement by extending it for an additional three years.
“The employment agreement, which was originally scheduled to expire October 15, 2005, will now expire October 15, 2008,” said the bulletin.
In announcing the extension of Plumeri’s employment agreement, Perry Golkin, Chairman of the Compensation Committee of the Company’s Board of Directors, stated: “My colleagues on the Board and I are extremely pleased with Joe Plumeri’s leadership in building Willis into a great business for our shareholders. The improvements made since Joe’s arrival at Willis have translated into three consecutive years of record financial results and we are delighted that Joe has agreed to extend the term of his agreement with us.”
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