General Re Corporation announced today that Joseph Brandon, chairman and chief executive officer at the scandal-scarred company, has decided to resign effective immediately.
Mr. Brandon will be replaced by Franklin “Tad” Montross IV, president of General Re Corporation, the company said in a statement. Gen Re is a wholly owned subsidiary of Berkshire Hathaway Inc.
The resignation announcement, which appeared on the Berkshire Hathaway Web site, follows convictions of former top Gen Re CEO Ronald Ferguson and Christopher Garand, former Gen Re senior vice president, as well as an American International Group executive earlier this month.
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