Charman stays one year longer at Axis

by Richard Kilner

Story link: Charman stays one year longer at Axis

John Charman, CEO and president of Axis Capital, has had his employment extended to 31 December 2009.

Charman became unfortunately known as the man who had to pay his former wife, Beverley, £48m as part of the largest divorce settlement in British legal history.

In February of 2006 he announced his intention to retire at the end of 2008, to coincide with the ending of his employment agreement, citing his divorce settlement as the grounds for his choice.

Michael Butt, chairman of Axis Capital, commented at the time that the board of directors had reviewed senior management yearly since the inception of Axis, and thus developed a strong and deep management group.

He added that the firm’s strategy remained the same, that Charman was still committed to the company and that he looked forward to working with the CEO and president in implementing the firm’s strategy.