Marsh Says 5 Executives Will Lose Their Board Seats
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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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Jeffrey W. Greenberg, chairman and chief executive of Marsh & McLennan Companies Inc., which is the target of a bid-rigging investigation by New York's attorney general, submitted his resignation on Monday, the company said.
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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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The disastrous decline in Marsh &amp; McLennan&#39;s stock that has followed Eliot Spitzer&#39;s lawsuit of last week has injured a broad array of institutional and individual investors.
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Marsh & McLennan Cos Inc  said  on Friday it will replace its embattled chief executive Michael  Cherkasky following a year of disappointing results.
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SAN FRANCISCO (CBS.MW) -- Marsh &amp; McLennan said late Thursday that five directors, who are also executives at the insurance broker, have stepped down from the board.
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She replaces retiring member M. Victor Westberg on the five-person board of directors.
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Marsh & McLennan Cos. MMC.N, the  insurance broker accused by New York's Attorney General Eliot  Spitzer of bid-rigging fraud, on Thursday said five senior  executives stepped down from its board of directors.
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A day after the resignation of its chairman and chief executive officer, Marsh &amp; McLennan Cos. announced on Tuesday it would stop accepting fees that had prompted a lawsuit by New York state Attorney General Eliot Spitzer.
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Regulators would take steps to oust top executives if the board of the government-chartered mortgage funding company doesn't remove them on its own, according to a source close to the situation.
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EBay Inc  warned that  2008 results would fall below Wall Street expectations, sending  its shares more than 5 percent, even as it confirmed  long-serving Chief Executive Meg Whitman would step aside.
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A key executive of the insurance brokerage unit of Marsh & McLennan Cos.  has resigned, and sources said a major reorganization will take place on Thursday at the hands of the unit's new chief, Dan Glaser.
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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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Jeffrey Greenberg, chairman and chief  executive of embattled insurance broker Marsh & McLennan Cos.  MMC.N, is expected to step down within hours, a newspaper  reported on Friday, citing people close to the discussions.
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Broker Marsh &amp; McLennan Cos.&#39; (MMC.N: Quote, Profile, Research) internal investigation into accusations of insurance bid-rigging has triggered the dismissal of four executives in recent days, a company representative said on
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Five members of Marsh &amp; McLennan Cos.âs board of directors who are also officers of the company have resigned from the board.
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The chief executive and chairman of Marsh &amp; McLennan Companies, the world&#39;s biggest broker of insurance, stepped down today, less than two weeks after his company was accused of cheating customers.