Chief executive’s contract up for renewal in July 2013

Willis chief executive Joe Plumeri is planning to step down next year, according to news reports.

Former Citigroup banker Plumeri has headed Willis since 2000 and oversaw the company’s flotation on the New York Stock Exchange in 2011.

According to Willis’s latest proxy statement, Plumeri’s contract ends on 7 July 2013.

Willis declined to comment directly on Plumeri’s departure. However Willis spokesman Josh King said in a statement: “There’s nothing new in the fact that boards discuss their duty regarding succession at their regular meetings, nor would we speculate about details of those discussions. Joe is totally focused on running the company and serving its shareholders, as he has been since 2000, and will continue to do so through the term of his current contract.”

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