Axis CFO Joe Henry leaves

  • Signs for push-out forces
  • After almost six years on the job
  • Laud, praise and thanks for Henry
  • Pete Vogt taking over
  • Henry made a lengthy statement and said 74 words

(exechange) — Pembroke, Bermuda and New York, May 10, 2017 — Joe Henry, finance chief of Axis, leaves. His departure is made public at an early stage. As announced by Axis Capital Holdings Limited in a news release and in a regulatory filing published on Wednesday, May 10, 2017, Joseph C. (Joe) Henry leaves the post as Chief Financial Officer at the insurance company after almost six years on the job, effective December 31, 2017.

Henry’s duties are taken over by Pete Vogt, currently Chief Operating Officer at Axis Insurance.

No reason given

In the announcement, Axis did not explicitly explain the reason for Henry’s move, opening the door for speculation.

Precise information about the future plans of Henry was not immediately available.

“Retire”

Axis said: “On May 4, 2017, Joseph Henry notified Axis Capital Holdings Limited … of his intention to retire from his position as Chief Financial Officer of the Company effective January 1, 2018.”

Share price rise since September 2011

The change follows a rise in the share price of Axis Capital Holdings Limited since September 2011.

Vulcan Value holds 8.98 percent stake

Vulcan Value Partners, LLC reported an 8.98 percent stake in Axis Capital Holdings Limited as of December 30, 2016.

Chaired by Michael A. Butt

Axis Capital Holdings Limited is chaired by Michael A. Butt.

Michael A. Butt has served as Chairman of the Board or a director since September 2002.

CEO: Albert A. Benchimol

Albert A. Benchimol serves as CEO of Axis Capital Holdings Limited. Albert A. Benchimol was appointed President and Chief Executive Officer of Axis Capital Holdings Limited in May 2012 and has served as a director since January 2012.

On the job as CFO since 2012

Joseph Henry joined Axis Capital as Chief Financial Officer in June 2012.

He previously had served as Executive Vice President and Chief Financial Officer of XL Insurance since 2006.

From 2003 to 2006, Henry was the Global Controller for XL Global Services and also served as the interim Corporate Controller for XL Capital from 2005 to 2006.

Prior to joining XL, he held various senior leadership positions at Meadowbrook Insurance Group including Chief Operating Officer and Chief Financial Officer.

Henry began his career at KPMG where he became an Audit Partner before leaving to join the Hanover Insurance Companies as its Chief Financial Officer and Treasurer in 1987.

Following his retirement, Henry will continue to serve as an advisor to the Company.

Signs for push-out forces

It is not completely certain what forces eventually triggered Joe Henry’s move.

The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.

Read the full story in the exechange report 20.2017 ($).