Willis Group Holdings Limited has amended the employment agreement with its Chairman and Chief Executive Officer, Joseph J. Plumeri, to extend its term for an additional year. The employment agreement, which was scheduled to expire October 15, 2008, will now expire October 15, 2009.
In announcing the decision Willis Board of Directors issued the following statement: “For more than six years, Joe Plumeri and his team have instilled passion, discipline and a common sense of purpose throughout Willis. This has clearly been reflected in the outstanding earnings and share price performance of the Group over the same timeframe. We are pleased that Joe has agreed to extend his contract and we look forward to his continuing leadership.”
Plumeri returned the compliment, saying he was “proud to be associated with Willis,” and continues to be “as passionate today about the company as I was on the day I started.” He also reaffirmed his commitment to the Company, and indicated that “there is still a lot of work to be done in order to achieve our goals and I am excited about leading our team into the future.”