Bermuda-based White Mountains Insurance Group Ltd. announced the election of Manning Rountree as chief executive officer, effective immediately, succeeding Ray Barrette, who is retiring. Rountree has also been elected to the company’s board of directors.
Barrette also retired as chairman and as a member of the board of directors of the company. Morgan Davis, the lead independent director of the board, has been elected non-executive chairman.
“It has been a tremendous honor to serve White Mountains over the past several decades and to have led a terrific team of seasoned and dedicated professionals. I am proud of all that we have achieved,” said Barrette.
“Rest assured that I am leaving the company in very capable hands,” he added. “Manning is an exceptional manager and has all the right skills and experience to take the company forward. He is the right person to lead the company at this time.”
Rountree most recently served as president of White Mountains Capital and was president of WM Advisors from 2009 to 2014. He joined the company in 2004.
“Ray has been a valued mentor and a good friend over the years, and I am grateful for his continuing guidance as I transition into my new role,” said Roundtree. “There are wonderful opportunities ahead. I look forward to working with our board and management team to build upon our strong track record of creating shareholder value.”
Source: White Mountains Insurance Group Ltd.
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