Analyst Welcomes Aon Chief's Plan To Resign
NU Online News Service, Oct. 4, 2:07 p.m. EDT
"We view this announcement as an incremental positive for [Aon's] stock," said Jay Gelb, insurance analyst at the New York-based Prudential Equity Group LLC. Mr. Gelb said he would welcome the upcoming management change because while the Chicago-based insurance broker has a good global franchise, its potential has been "untapped due largely to senior management's missteps."
Last Thursday, Aon Corporation announced that its board is initiating a CEO succession process. Mr. Ryan plans to retire from the chief executive position once a successor is named, but will thereafter continue to serve as chairman.
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