Dennis Mahoney, chairman and chief executive officer of the United Kingdom division of Chicago-based insurance broker Aon Corp., had his employment contract extended to 2015.
A company spokesman said that traditionally, insurance industry CEOs in the United Kingdom retire at 60. The contract extension formalizes his commitment to remain with Aon UK until the age of 65.
Greg Case, Aon Corporation's CEO, said the agreement with Mr. Mahoney "underlines our firm's strength of purpose in continuing to lead in this area and drive further improvements in our UK business."
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