Marsh & McLennan CFO to Resign

Sandra S. Wijnberg will leave the company in March.

Author:: TSC Staff
Publish date:: Aug 22, 2005 5:46 PM EDT

Marsh & McLennan

said Sandra S. Wijnberg, the company's senior vice president and chief financial officer, plans to resign in March.

The insurance brokerage firm has started a search for her successor. She will remain with the company through the reporting of its current-year results.

Wijnberg joined Marsh & McLennan in January 2000. From 1997 through 1999, she was senior vice president and treasurer of

Yum! Brands

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. Before that, she worked for

PepsiCo

(PEP) - Get Report

"Now that the company is well on the path to recovering from its recent challenges, I believe that it is the right time for me to explore the next stage of my professional career," Wijnberg said in a statement.

Earlier this month, the company said second-quarter revenue rose 2% to $3.1 billion. Net income was $166 million, down from $389 million last year.

Last fall Eliot Spitzer, the New York attorney general, laid out plans for an insurance-industry crackdown, including accusations that Marsh rigged bids and fixed prices on commissions. The investigation led to the resignation of the company's CEO, and, in January, Marsh agreed to pay $850 million in a settlement.