Dame Inga Beale lands board place at Willis Towers Watson
In addition to Lloyd’s, Beale’s references also include positions at Canopius, Zurich, Converium, GE Insurance Solutions and Prudential. As a retired executive, Hammond has served with Lockton, Jardine Lloyd Thompson and Marsh for years.
Swanback, an alum from Accenture, is currently the product and platform president at Western Union. Chima is a seasoned Chief Information Officer who is currently affiliated with the Boeing Employee Credit Union.
“We welcome the appointment of Ms. Beale, Ms. Chima, Mr. Hammond and Ms. Swanback to the Board of Directors,” said Mark Wills, portfolio manager at Elliott Investment Management LP, one of WTW’s largest investors. “We believe these four outstanding independent directors have the right combination of skills and experience to support the company’s efforts to achieve superior shareholder returns.
“The company’s focus is now on successful implementation and Elliot looks forward to continuing our constructive engagement with Willis Towers Watson and the board of directors and Carl. to support [Hess] and the management team in the coming months to implement the company’s strategic plan. “
Board chairman Victor Ganzi – who believes the newcomers will add “a deep and broad knowledge base and a wide variety of experience and skills” to the board – has decided not to stand for re-election. His term of office runs until the 2022 annual general meeting.
“We look forward to continuing to work with Elliott and our fellow shareholders as we continue the process of renewing the Willis Towers Watson board of directors and advancing our strategic plan to increase company value for the benefit of shareholders,” said Ganzi.
Before the announcement of the now ended deal with Aon, WTW had participated in a so-called “thorough” multi-year succession planning process. If there are further changes in the board of directors in the next year, the roster will be reduced to nine by the annual meeting.
“We are very excited about our strategic plan and the value that we believe will bring the shareholders of Willis Towers Watson,” commented outgoing CEO John Haley. “We really appreciate the support from Elliott and all of our investors.
“As I am about to retire, I look forward to working with Carl, the management team and the newly appointed board member to continue the transition and position the company as best as possible for continued value creation.”
Hess, who became president in August, will take over Haley as CEO in the new year. The new boss will then join the board. In connection with the changeover, an operational transformation committee will be set up on the Executive Board. Early members include Beale, Hammond, Swanback and previous director Paul Thomas.