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The Risk & Insurance Management Society Inc. has extended the current and next presidential terms to 16 months to synchronize the term of its presidency with its fiscal year.
Michael Liebowitz, director of insurance and risk management for New York University, will continue serving as president of the New York-based organization until Aug. 31.
His expected successor, Janice Ochenkowski, managing director at Chicago-based Jones Lang LaSalle Inc. and vp of RIMS, then will take over until Jan. 1, 2009.
Future presidents will revert to 12-month presidential terms.
The change is being implemented because presidents set the organization's agenda and budget, but occasionally did not have the necessary funds to complete projects because their terms in office did not match up with the organization's fiscal calendar, Mr. Liebowitz said. "This was to get the governance side of the house and the financial side of the house in sync," he said.
The months added to his term will enable Mr. Liebowitz to continue working on issues he has been actively involved in as president, such as contract certainty and policy issuance. "It allows me to work on more complicated projects and bring them a little closer to conclusion," he said.
Additional Business Insurance RIMS coverage can be read at www.businessinsurance.com/RIMS2007.