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Willis Towers Watson P.L.C. CEO John Haley’s contract has been extended until Jan. 1, 2021, when he will retire, said the company, in a U.S. Securities and Exchange Commission filing Wednesday.
Mr. Haley, whose employment agreement had continued until Dec. 31, 2018, will continue to receive a base salary of $1.2 million. He will also receive $9.2 million in 2019 and $9.6 million in 2020 in “performance-based restricted share units,” according to the filing.
Mr. Haley will also receive $1 million in deferred compensation contributions in January 2019 and in January 2010, plus an additional $250,000 contribution upon his retirement in January 2021, according to the filing.
Mr. Haley, who has been with the company since 1977, was named CEO in 1998, according to the company.
Willis Towers Watson P.L.C. said Monday that Alexis Faber has been appointed to the newly created position of chief operating officer within its corporate risk and broking segment.