NU Online News Service, Feb. 22, 3:47 p.m. EST
Baljit Dail, the co-chief executive officer of Aon Hewitt will be leaving the company for health reasons, insurance broker Aon said in a government filing.
According to the filing with the Securities and Exchange Commission, Dail will leave Aon Hewitt on March 31 “to focus on health and work-life balance.”
Co-CEO Kristi Savacool, will assume the leadership of the consulting firm.
Under the separation agreement, Dail will receive a $1 million lump sum payment on Oct. 1 and he will be subject to non-compete and non-solicitation agreements for a period of two years. He will also be tied to certain confidentiality agreements regarding trade secrets and company information.
Aon acquired Lincolnshire, Ill.-based human resource consulting and outsourcing solutions firm Hewitt in 2010 for $4.9 billion in stock and cash. Aon eliminated 1,500 jobs as part of the restructuring.