Martin Sullivan to leave Willis in MayReprints
Willis Group Holdings P.L.C. Deputy Chairman Martin Sullivan will leave the brokerage in May, London-based Willis announced Friday.
In a statement, Willis said that Mr. Sullivan, who is also chairman and CEO of the brokerage's Willis Global Solutions unit, will depart after a transition period, “to pursue other interests.” Willis said that after Mr. Sullivan's departure, the group's corporate governance will be streamlined to include the CEO, deputy CEO and non-executive chairman, supported by the Willis Group Operating Committee.
Mr. Sullivan joined Willis in 2010 to head the new global solutions unit. He had previously served as CEO of American International Group Inc., succeeding Maurice R. Greenberg as AIG's CEO in 2005. He was ousted from that position amid mounting pressure from AIG shareholders.
“Martin joined Willis as our deputy chairman at a time when we were determined to establish a deeper penetration among the world's largest accounts,” said Willis Group CEO Dominic Casserley in a statement announcing Mr. Sullivan's planned departure. “We are grateful for Martin's service to our firm and the success that he and his team have enjoyed, and we intend to carry it forward.”
Deputy CEO Steve Hearn, in his role as CEO of Willis Global, will lead the Global Solutions unit, Willis said in the statement.
Willis declined any comment beyond the statement.