In continuing its plan to eliminate approximately 200 full-time positions, Willis Group Holdings will no longer have a chief operating officer.
In a filing with the Securities & Exchange Commission on Friday, the insurance broker said it eliminated the position held by Gioia Ghezzi on Feb. 14. A spokeswoman said the brokerage will split Ghezzi's responsibilities between two existing staff members.
Ghezzi joined Willis in April from McKinsey & Co., succeeding Tim Wright, who was named CEO of Willis International.
Earlier in the day on Friday, Willis said Martin Sullivan, former head of American International Group and currently the deputy chairman of Willis Group Holdings plc and chairman/CEO of Willis' Global Solutions unit, would leave the firm in May.
In the SEC filing, Willis said it is accelerating the vesting of 15,572 restricted stock units to Sullivan in connection with his departure. (Willis did not make available those shares' current value.)
CEO Dominic Casserley said last Wednesday that the firm will spread the eliminated positions widely, but declined to provide additional detail.
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