UPDATE 2-Marsh &amp; McLennan says 5 top execs leave board
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) , the insurance broker accused by New York&#39;s Attorney General Eliot Spitzer of bid-rigging fraud, on
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Tough times continue at Sprint Nextel, as the company said Thursday that three of its top executives are on their way out.CFO Paul Saleh, Chief Marketing Officer (CMO) Tim Kelly, and President of Sales and Distribution Mark Angelino will leave the company on Friday, according to Sprint Nextel. It wasn&#39;t clear if the executives were leaving voluntarily or were being let go, and company spokeswoman Leigh Horner said in an e-mail that Sprint Nextel isn&#39;t &quot;commenting further or characterizing the nature of these departures.&quot;In a press statement, Sprint Nextel President and CEO Dan Hesse thanked the three for their &quot;dedication and contributions&quot; to the company, and wished them luck in future endeavors.Sprint Nextel is looking to replace the departing executives permanently, but in the meantime their duties are being handled by existing executives.William G. Arendt, currently senior vice president and controller of Sprint Nextel, will serve as acting CFO, while John Garcia, currently senior vice president, product development and management, will serve as acting CMO. Paget Alves, currently Sprint Nextel&#39;s regional president for sales and distribution, will serve as acting president, sales and distribution. All of these executives will report directly to Hesse.The news of the executive shake-up follows the announcement last week that&#160;Sprint would be laying off 4,000 employees and the close 125 of its 1,400 retail outlets&#160;due to the net loss of more than 100,000 customers in the fourth quarter of 2007. At the end of the year, Sprint said it had 53.8 million subscribers, including 40.8 million customers of its traditional post-paid service.The company plans to announce its full fourth-quarter results on Feb. 28.While Sprint struggles, rival carrier&#160;AT&amp;T seems to be doing better, thanks to its partnership as the&#160;exclusive service provider for Apple&#39;s iPhone&#160;device. AT&amp;T&#39;s revenue was up 2.9 percent in the fourth quarter of 2007, largely driven by increases in mobile phone and broadband customers, the company announced Thursday.AT&amp;T saw a net gain of 2.7 million mobile subscribers during the quarter, and most of them came to the company through its iPhone partnership, the company said. Apple said Tuesday it sold 2.3 million iPhones during the quarter.
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The chief of Marsh & McLennan, the world's biggest insurance broker, resigned less than two weeks after his company was accused of cheating customers.
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WASHINGTON -- Jeffrey W. Greenberg, who resigned this week as chairman and chief executive of Marsh &amp; McLennan Cos. Inc., amid a regulatory inquiry into its policies, exercised options to obtain 540,000 shares
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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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Media & professional: Board member resigns in protest at the endorsement of Murdoch's $5bn Wall Street Journal takeover bid.
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Marsh &amp; McLennan Cos. (MMC.N: Quote, Profile, Research) Chairman and Chief Executive Jeffrey Greenberg resigned on Monday, 11 days after New York Attorney General
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Marsh & McLennan said today that it would lay off roughly 5 percent of its work force, as it moved to right itself after being accused of bid-rigging.
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Marsh & McLennan, the US insurance broker being sued for alleged price fixing, ditches half its board of directors.
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Talk about a tough sales call. Marsh &amp; McLennan Co.'s top managers, led by new chief executive Michael Cherkasky, took their corporate rehabilitation story to Wall Street yesterday in a conference call with stock analysts. The gist of the plans had been publicly revealed the day before.
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Insurance broker Willis Group Holdings  Ltd. WSH.N on Monday said it hired a top executive from  embattled rival Marsh & McLennan Cos. Inc. MMC.N
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NEW YORK -- Marsh &amp; McLennan Cos. Inc., the world's biggest insurance brokerage, said yesterday it will cut 750 jobs, consolidate some locations, and revamp its information technology structure to cut costs.
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NEW YORK -- Marsh &amp; McLennan, the nation&#39;s largest insurance brokerage, said Tuesday it will lay off 3,000 employees, or about 5 percent of its work force, because of fallout from a bid-rigging scandal that has engulfed the insurance industry.
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Marsh & McLennan Cos. Chairman and  Chief Executive Jeffrey Greenberg resigned, the company said on  Monday, 11 days after New York's attorney general accused the  world's biggest insurance broker of rigging insurance prices.
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Struggling to reorganize after being accused of cheating its customers, Marsh & McLennan said that it was removing five executives from its board.
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December 23, 2004 -- Marsh &amp; McLennan Cos., the world&#39;s largest insurance broker, said the Securities and Exchange Commission is investigating the stakes that directors, officers, and shareholders have in the company&#39;s buyout funds.
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JEFFREY Greenberg was poised over the weekend to step down as chairman and chief executive of Marsh &amp; McLennan, the firm at the centre of New York Attorney-General Eliot Spitzer&#39;s probe into insurance corruption.