AXIS Capital Holdings announced that John R. Charman will retire as CEO and President effective May 3, 2012, the date of the Company’s 2012 Annual General Meeting of Shareholders. He was the principle founder of the company in 2001.
Albert Benchimol has been chosen to succeed him, also effective May 3, 2012. He currently serves as the Company’s CFO and as a member of its Executive Management Committee, and will join the company’s Board on January first. AXIS is currently conducting a search for his successor.
The bulletin noted that “Charman will remain with the Company in the position of Chairman of the Board of Directors, succeeding Michael A. Butt, who is stepping down as Chairman of the Board, but will continue to serve as a member of the Board of Directors.” It also said Charman would “remain actively involved with the Company, ensuring a seamless transition in leadership.”
Charman described his decision to step down from his posts as being the right time for “AXIS Capital to put in place the next generation of leadership.” He pointed out that he has worked closely with Benchimol “over the last year and have watched him build strong relationships across our fine Company while navigating an extremely difficult market and challenging global financial conditions.
“AXIS Capital has been at the very heart of my life for the last decade.,” he added. “I am confident that the Company is in very good hands with Albert as our new leader. He is a one hundred percent fit for our strong AXIS culture.”
Benchimol stated: “I intend to sustain a culture that is driven by a strong focus on underwriting discipline and risk management, and my mission is to ensure our Company continues to deliver long-term value for its stakeholders, including employees, clients, distribution partners, and shareholders, by maintaining consistency and sustainability of our strong global franchise as it enters its second decade. I look forward to the task at hand, and to working with our Board, strong executive management team and thousand-plus dedicated employees of our Company to continue our strong record of performance.”
Benchimol previously served as Executive VP and CFO at PartnerRe Ltd. from 2000. In 2007 he took on the additional role of CEO of PartnerRe Ltd’s. Capital Markets Group. He also previously served as the Senior Vice President and Treasurer at Reliance Group Holdings Inc. Benchimol holds an M.B.A. in Finance and Marketing and a B.S. in Physiology and Immunology from McGill University in Montreal, Quebec, Canada.
Source: AXIS Capital Holdings Limited
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