Newman to Leave Platinum Board; Carmichael Named Non-Exec Chairman

Bermuda-based Platinum Underwriters Holdings has announced that Steven H. Newman will retire from its Board of Directors at the end of his current term. He has served as Chairman of the Board of Platinum since 2002, and will continue to serve as a consultant to Platinum’s U.S. subsidiary until April 23, 2010.

Platinum also announced that the Board of Directors has appointed Dan R. Carmichael as its Non-Executive Chairman effective upon his re-election at the Annual General Meeting of Shareholders on April 23, 2008. He has served as the Presiding Independent Director and Chairman of the Governance Committee of Platinum since 2002. He has also served as a member of the Platinum’s Audit Committee since 2002.

Carmichael indicated he is “pleased to serve as Platinum’s Non-Executive Chairman,” and praised the Company’s management, as well as Newman’s “service and dedication during his tenure as Chairman.”

President and CEO Michael D. Price, commented, “I would like to thank Steve for his significant contributions to Platinum’s success over the last five years and I am pleased we will continue to have access to his advice and counsel.” He added that he is looking forward to working with Carmichael.

Source: Platinum Underwriters –