5 &#39;inside&#39; directors quit Marsh board
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Embattled insurance broker Marsh &amp; McLennan Cos. said yesterday that five members of its board of directors -- all of them executives of the company -- are leaving the board.
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Jeffrey Greenberg, the embattled CEO of Marsh &amp; McLennan, resigned yesterday, another scalp taken by New York Attorney General Elliot Spitzer.
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Marsh &amp; McLennan Cos. , the insurance broker at the center of a bid-rigging probe, on Tuesday said it will lay off 3,000 employees, or 5 percent of its work force, and reported third-quarter profit tumbled 94 percent.
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Two top executives of scandal-tarred insurance firm Marsh Inc. were ousted yesterday, the company said, the latest casualties of an industry probe by New York's attorney general.
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NEW YORK -- Facing charges from New York Attorney General Eliot Spitzer of bid rigging and kickbacks, Marsh & McLennan Cos. jettisoned chairman and chief executive Jeffrey Greenberg yesterday by accepting his resignation, and replaced him with one of Spitzer's former mentors.
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The outside directors of Marsh &amp; McLennan (MMC.N: Quote, Profile, Research) have talked to New York&#39;s attorney general about having its chief executive step aside amid a probe into its business practices, the Wall Street Journal said
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Marsh &amp; McLennan, the world&#39;s biggest insurance broker, last night disclosed that regulators had launched an investigation into transactions involving its directors.
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NEW YORK Marsh &amp; McLennan has a good chance of surviving despite the departure Monday of Jeffrey Greenberg, its chief executive, as long as its outside directors understand that removing Greenberg is not the last but the first change they will have to make
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Marsh & McLennan Cos. MMC.N, the  insurance broker at the center of a bid-rigging scandal, on  Tuesday said it will lay off 3,000 employees, or 5 percent of  its work force.
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Dow Jones & Co. Inc.  director Dieter von Holtzbrinck is resigning from the board, saying he could not support the company's endorsement of a $5 billion takeover offer by Rupert Murdoch's News Corp .
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Shares of Marsh & McLennan Cos. were  whipsawed on Friday amid conflicting reports that a change in  the insurance broker's top management was imminent.
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Two of Franklin Resources Inc.'s board members have resigned, but the mutual fund company hopes to bring back one of the departing directors.
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Struggling to reorganize after being accused of cheating its customers, Marsh &amp; McLennan, the world&#39;s largest insurance broker, said yesterday that it was removing the five company executives
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Reliance Energy Ltd., India&#39;s second- biggest utility by market value, said it asked six directors who quit last week to withdraw their resignations.
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Seventeen-year Microsoft Corp. board member William G. &quot;Gary&quot; Reed Jr. is leaving the position, reducing the group to nine members and trimming the long list of corporate boards on which the 65-year-old retired timber executive sits.
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Embattled insurance brokerage Marsh & McLennan Companies Inc. said Tuesday that it will lay off 3,000 employees, or about 5 percent of its work force, as it struggles to deal with the fallout from a bid-rigging probe by New York Attorney General Eliot Spitzer.
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The chief executive and chairman of the Marsh &amp; McLennan Companies, the world&#39;s biggest broker of insurance, resigned yesterday, less than two weeks after his company was accused of cheating customers.