Michael G. Cherkasky, Marsh & McLennan Companies' embattledchief executive officer, will be leaving the company after hisreplacement is found, the firm announced.

The professional services company, parent of Marsh insurancebrokerage, said this morning that the board of directors hasinitiated a search to replace Mr. Cherkasky, who became presidentand chief executive officer in Oct. 2004.

In a statement the company said the board “has determined achange in leadership will best enable MMC to move forward andenhance shareholder value.

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