NU Online News Service, Aug. 27, 2:30 p.m. EDT
Pembroke, Bermuda-based AXIS Capital Holdings Ltd. said David Greenfield, executive vice president and chief financial officer, will resign from his position effective Nov. 30.
AXIS said it has initiated a search for a successor to Mr. Greenfield. In an e-mail a spokesman said the company does not comment on its hiring strategy and declined further comment.
In reaction to Mr. Greenfield's departure, Standard & Poor's Ratings Services issued a statement saying its ratings on the company and its subsidiaries are not affected by the announcement of Mr. Greenfield's resignation.
S&P said that "Mr. Greenfield is leaving the company on good terms to pursue other interests." It added, "We don't believe this management change is a concern given the strong executive management team and its proven track record."
In a statement, John Charman, chief executive officer and president of AXIS, said: "David has been a valued member of our executive management group for the past four years. During this time, he has successfully directed financial strategy at the company and led the further development of our accounting, control, financial reporting, financial planning, tax and treasury functions. We thank David for his many contributions to AXIS Capital during the last four years and wish him well in his future endeavors."
AXIS is a global provider of specialty lines insurance and treaty reinsurance.
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