Brian M. Storms, the chief executive officer of insurance broker Marsh, has stepped down in what analysts say is a sign of continued turmoil within the insurance brokerage firm.
Late Friday, New York-based Marsh & McLennan Companies Inc. said Mr. Storms' departure was effective immediately and that a search for a successor is underway. In the interim Michael G. Cherkasky, president and chief executive officer of MMC, will serve as acting CEO of Marsh.
“Brian has made important contributions to Marsh's recovery over the past two years,” said Mr. Cherkasky. “Our long-term strategy is sound and a solid foundation has been built. That said, we now need a different set of leadership and operational skills to complete the successful transformation of Marsh.”
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