White Mountains CEO Ray Barrette hands over to Manning Rountree

  • After about ten years on the job
  • Laud, praise, thanks and good wishes for Barrette
  • Barrette spoke at length and said 78 words

(exechange) — Hamilton, Bermuda, March 02, 2017 — Ray Barrette, chief executive of White Mountains, hands over the reins. It is an abrupt change. As announced by White Mountains Insurance Group, Ltd. in a news release on Thursday, March 02, 2017, Raymond (Ray) Barrette leaves the post as Chief Executive Officer at the financial services holding company after about ten years on the job, effective immediately.

It is the end of an era.

Barrette’s duties are taken over by Manning Rountree, most recently President at White Mountains Capital.

The move is a generational change as well. Manning Rountree is about 22 years younger than Ray Barrette.

“Retiring”

White Mountains announced “the election of Manning Rountree as Chief Executive Officer, effective immediately, succeeding Ray Barrette, who is retiring”.

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

Share price rise since March 2009

The change follows a rise in the share price of White Mountains Insurance Group, Ltd. since March 2009.

On the job as CEO since 2007

Barrette has served as Chairman and CEO of White Mountains since January 2007.

Barrette was appointed to the Board in August 2006.

He currently serves as:

  • Chairman of Sirius International Group, Ltd.
  • Director of OneBeacon Insurance Group, Ltd.
  • Director of BAM.

Barrette formerly served as:

  • Chairman of Esurance Holdings, Inc.
  • Director of Montpelier Re Holdings, Ltd. from 2001 to 2007.
  • Director of White Mountains Insurance Group, Ltd. from 2000 to 2005.
  • President and CEO of White Mountains Insurance Group, Ltd.
  • Managing Director and Chief Executive Officer of OneBeacon Insurance Group
  • Executive Vice President and Chief Financial Officer of White Mountains
  • A consultant with Tillinghast-Towers Perrin
  • President of Personal Insurance Division at Fireman’s Fund Insurance Company.

Barrette also retired as Chairman and as a member of the Board of Directors of White Mountains.

Morgan Davis, the lead independent director of the Board, has been elected non-Executive Chairman.

Read the full story in the exechange report 10.2017 ($).