ACE Appoints Evan Greenberg Chairman of Board of Directors.HAMILTON, Bermuda -- ACE Limited (NYSE NYSE See: New York Stock Exchange :ACE) announced today that the Board of Directors of ACE Limited has elected the Chief Executive Officer of the Company, Evan G. Greenberg Evan Greenberg is President and CEO of ACE Limited.
Mr. Duperreault commented on the planned transition: "Evan has proven his leadership through the performance of our Company in a period marked by natural catastrophes and widespread industry investigations. ACE has been a leader in risk management, underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. and industry reform since he became our CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and I expect that to continue. I am proud to again pass the reins to a proven industry leader who will continue to serve our shareholders well in the years to come." Robert Hernandez will remain as Lead Director of a Board comprised primarily of independent Directors. He said, "Evan has earned the trust and confidence of our Board through three years of transition, industry change and team-building. The Company's performance has been extraordinary. His election as Chairman reflects our confidence in Evan and his management team to lead the Company through the challenges and opportunities in the years to come." The ACE Group of Companies is a global leader in insurance and reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. serving a diverse group of clients. Headed by ACE Limited, a component of the Standard & Poor's 500 stock index, the ACE Group conducts its business on a worldwide basis with operating subsidiaries An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. in more than 50 countries. Additional information can be found at: www.acelimited.com. |
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