In continuing its plan to eliminate approximately 200 full-timepositions, Willis Group Holdings will no longer have a chiefoperating officer.
|In a filing with the Securities & Exchange Commission onFriday, the insurance broker said it eliminated the position heldby Gioia Ghezzi on Feb. 14. A spokeswoman said the brokerage willsplit Ghezzi's responsibilities between two existing staffmembers.
|Ghezzi joined Willis in April from McKinsey & Co.,succeeding Tim Wright, who was named CEO of WillisInternational.
|Earlier in the day on Friday, Willis said Martin Sullivan,former head of American International Group and currently thedeputy chairman of Willis Group Holdings plc and chairman/CEO ofWillis' Global Solutions unit, would leave the firm in May.
|In the SEC filing, Willis said it is accelerating the vesting of15,572 restricted stock units to Sullivan in connection with hisdeparture. (Willis did not make available those shares' currentvalue.)
|CEO Dominic Casserley said last Wednesday that the firm willspread the eliminated positions widely, but declined to provideadditional detail.
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