Brian Duperreault, president and CEO of Marsh & McLennan Cos. Inc., has extended his employment with MMC through January 2014. Duperreault has held this position since Jan. 30, 2008.
Under the terms of the new agreement, Duperreault’s employment with MMC is extended an additional three years to Jan. 29, 2014; the original term of employment was scheduled to expire on Jan. 29, 2011. The agreement also is intended to help provide for an orderly transition if Duperreault’s successor is identified prior to the end of Duperreault’s employment term.
Prior to joining MMC, Duperreault served as CEO of ACE Limited, the Bermuda-based insurer MMC helped found in 1985, from 1994 to 2004. He then served as chairman of the board from 2004 to 2007. Under his leadership, ACE grew from a boutique catastrophe insurance specialist into a global multi-line commercial enterprise. He presided over significant organic growth as well as the acquisition of several businesses, including the 1999 acquisition of Cigna’s property and casualty business. Prior to ACE, Duperreault was with American International Group for more than 20 years, holding numerous positions and eventually rising to become executive vice president of AIG Foreign General Insurance and chairman and CEO of AIG’s American International Underwriters (AIU), which comprised all of AIG’s non-U.S. commercial business.
“Since arriving at MMC, Brian Duperreault has done a tremendous job – not only in stabilizing the Marsh & McLennan franchise but in leading the company through one of the worst economic periods in the past century,” said Stephen R. Hardis, Chairman of MMC’s board of directors. “This contract extension will allow Brian to bring the initiatives he has already begun through to completion.”
Source: MMC, www.mmc.com