Bermuda-based Montpelier Re Holdings Ltd. announced that as part of the Company’ s succession plan the Board of Directors has approved the entry into a new Service Agreement between the Company and Chairman and CEO Anthony Taylor, effective January 1, 2008. The Board also approved two executive officer appointments linked to the extension of Taylor’ s Service Agreement, each effective January 1, 2008.
Christopher L. Harris, the Company’ s Chief Underwriting and Risk Officer, will assume the role of President of the Company. Thomas G.S. Busher, a Director and the Company’s Chief Operating Officer, will step up to the role of Deputy Chairman. In both cases the appointments are in addition to their existing responsibilities.
Taylor’ s new Service Agreement, which is for two years but may be extended by agreement, “makes provision for him to relinquish the role of Chief Executive Officer on or after June 30, 2008,” said the bulletin. “At such time he will step up to the role of Executive Chairman.”
John Shettle, Lead Director, commented: “The Board is delighted to have secured Tony’ s services for at least another two years in the most senior position in the Company. And in Chris and Tom we have two long-standing and experienced executives who have demonstrated their ability to establish and achieve the Company’ s strategic goals.”
Source: Montpelier Re – www.montpelierre.bm
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