John Charman, chief executive officer and president of AXIS Capital Holdings Limited, said he will retire at the end of 2008 because he is undergoing a divorce.
In a company statement, the Pembroke, Bermuda-based insurer said Mr. Charman will retire at the end of his current employment contract. AXIS said he was retiring as the “result of his divorce proceeding currently pending in the United Kingdom.” A company spokesman declined to comment further.
Mr. Charman's successor has not been named, but Michael Butt, chairman of AXIS, noted in a statement that the AXIS board reviews its senior management succession annually “and the company has developed a very strong and deep management group.”
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