Former prosecutor to head up MMC for at least three years

Adding a note of stability during a turbulent era in theinsurance brokerage industry, Michael G. Cherkasky last week signedon to continue heading up Marsh & McLennan Companies Inc. forat least the next three years.

Mr. Cherkasky agreed to stay on as president and chief executiveofficer of the troubled firm, signing a three-year contract withMMC worth $1 million in base salary and potentially millions inannual bonuses over the life of the deal.

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