ZURICH (dpa-AFX) - Zurich Insurance Group (ZURVY) said that Mike Foley will retire from Zurich as Chief Executive Officer of Zurich North America. He will be succeeded as CEO by Kathleen Savio , currently President of North America's Alternative Markets unit. The change will take effect on January 1, 2018.
Mike Foley, who has served as CEO of Zurich North America since 2008, joined Zurich in 2006 as North America's Chief Operating Officer. During his tenure leading Zurich's largest business unit, Mr. Foley successfully drove the transformation of the region's technical capabilities, refined its performance management processes, built its predictive analytics capabilities and streamlined its operating model. Many of the initiatives he led became best practices for Zurich's global operations.
Ms. Savio will join Zurich's Executive Committee October 1, 2017 as Zurich North America CEO-Designate, and will work closely with Mr. Foley before assuming the CEO role on January 1, 2018. The appointment is subject to regulatory approval.
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