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Article: Arch Capital Group Ltd. Implements Succession Plan; Ingrey to Succeed Clements as Chairman.
- Article from:
- Business Wire
- Article date:
- March 17, 2005
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HAMILTON, Bermuda -- Arch Capital Group Ltd. (NASDAQ: ACGL) today announced that, in line with the succession plan that the Company has in place, Robert Clements, founder and Chairman of the Company, will be stepping down as Chairman and a director. Paul Ingrey, currently Vice Chairman, will succeed Mr. Clements as Chairman beginning on April 1, 2005. Mr. Clements will continue to provide guidance to the Company as a consultant.
Mr. Clements said, "When we recapitalized Arch in 2001, the goal was to become a major participant in the mainstream of the global insurance and reinsurance market, which we have achieved. It has been gratifying for me to serve as ...