With Rizzo to Chief Operating Officer over both Property Liability and Protection, it appears Tom and the BOD have Mario as the inside candidate to follow TW. No doubt they'll search for external talent as well (such a great track record!), but he's a safe pick in Tom's world having come up through the Finance function. He'll get high grades for fixing the profit problem (novel--raise rates, tighten underwriting), and increasing shareholder value. Jess Merten to President of Property Liability provides him with an operating role for his resume. TW still has $200+ million in stock options, so he has a vested interest in shareholder value for sure. He'll probably stay as Chairman or non executive Chairman at retirement.
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@ey
So much inclusive DIVERSITY a man is the Sr Officer sponsor of the women's company club!
Jess Merton has the personality of a wall, he’s the current Executive Sponsor for the Women’s EIG and couldn’t be more unapproachable.
For those hoping for change, Mr External Hire is the only chance at change. Just not going to happen.
Then again, Mario got paid almost $10M last year and Jess got like $6M, so maybe they’ll say they’ve got enough and retire at some point? Wouldn’t bet on it but guess it’s possible.
TW will announce his next move in Q1 2026 that he will step away as CEO in late 2026 or early 2027, but remain Chairmen.
So in other words no end in sight to this insufferable train wreck.