2007-10-07 14:17:09 · 2 answers · asked by SG 2 in Business & Finance ➔ Corporations
Extract from article at the 1st link "It's not clear why Storms left, but Cholnoky said it may be because Marsh & McLennan Chief Executive Michael Cherkasky was unhappy with the pace of change and "lack of meaningful incremental revenue generation and margin improvement."
Or Storms may have had disagreed about the direction in which Cherkasky wanted to take Marsh, the analyst added."
Extract from article at 2nd link "Michael Cherkasky, the chief executive of Marsh & McLennan, a financial services firm, may have sealed his own fate by firing the head of his turnaround effort after three years of stock price stagnation.
The removal on Sept. 14 of Brian Storms as head of the insurance brokerage unit sent shares of Marsh, based in New York, to the lowest level in Cherkasky's tenure and prompted the last two supportive analysts to drop their "buy" ratings."
2007-10-07 15:04:33 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋
He resigned for personal reasons.
2007-10-10 07:23:24 · answer #2 · answered by Feeling Mutual 7 · 0⤊ 0⤋