Global Aerospace president and COO to step down
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The president and chief operating officer of aerospace insurance provider Global Aerospace Inc., Jeffrey Cassidy, will step down April 1, the company said.
Mr. Cassidy, who has served as president since January 2010 and chief operating officer since 2002, will remain with the company in a part-time capacity as director of space risk and executive adviser, Global Aerospace said in a statement released Wednesday.
Jeffrey Bruno will take over as president while continuing in his current role of chief underwriting officer, according to the statement.
Both executives are based at the company's home office in Parsippany, New Jersey.
Mr. Cassidy was elected in 2014 as president of the International Union of Aerospace Insurers, according to Global Aerospace's website.
A spokeswoman for Global Aerospace said Mr. Cassidy's role with the IUAI is unrelated to the changes at the company, which she said are part of a “long-planned succession strategy.”
“We are happy to be able to support Jeff Cassidy's wishes to transition to a senior, part-time role with the company,” Nick Brown, group CEO of Global Aerospace Underwriting Managers Ltd., said in the statement. “We thank him for his valuable contributions over the years, and we are pleased he will continue to be a part of Global Aerospace.”
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