ACE Limited announced today that Brian Duperreault, chairman of the board, will retire from the company, effective June 1. Mr. Duperreault will continue to serve ACE in the role of non-executive chairman of the board of directors.
Mr. Duperreault joined ACE in 1994 as chairman, president and chief executive officer, following more than 25 years with American International Group.
In other news, the Bermuda-based company said it will increase the quarterly dividend from 23 cents per ordinary share to 25 cents, the company said Thursday, following a vote by its board of directors approving the increase.
The increase will be paid to shareholders of record as of the close of business on June 30, but will not be payable until July 14.
Additionally, the board declared a dividend of $4.875 per Cumulative Redeemable Preferred Series C Share. The dividend translates to 48.75 cents per Depositary Share, according to ACE.
Shareholders of record as of the close of business on May 31 will qualify for the dividend, which is payable as of the next day, June 1.
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