Former prosecutor to head up MMC for at least three years
Adding a note of stability during a turbulent era in the insurance brokerage industry, Michael G. Cherkasky last week signed on to continue heading up Marsh & McLennan Companies Inc. for at least the next three years.
Mr. Cherkasky agreed to stay on as president and chief executive officer of the troubled firm, signing a three-year contract with MMC worth $1 million in base salary and potentially millions in annual bonuses over the life of the deal.
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