Succession search begins as Oil CEO announces retirement
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Robert Stauffer will retire as president and CEO of Oil Insurance Ltd. at the beginning of 2016, Hamilton, Bermuda-based Oil announced Tuesday.
In the announcement, the energy mutual insurance company said that the joint succession planning committee of the boards of directors of the member companies is initiating a search and succession process to select Mr. Stauffer's successor. Oil said that the committee plans “to have Bob's replacement on board before his retirement.”
Mr. Stauffer has been president and CEO since July 2005.
The statement said that Gerard Naisse and Theo Guidry, the respective chairmen of Oil Insurance Ltd. and Oil Casualty Insurance, Ltd., have indicated that “we believe that Bob leaves our respective member companies in very good shape and that we could not have a better time for a change in leadership.”
The statement added that the “goal of the succession committee is for the transition to proceed in an orderly manner with no disruption to the operations of the member companies.”
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