- Signs for push-out forces
- After less than two years on the job
- Laud, praise and good wishes for Millay
- Search for a successor
- Millay said 48 words
(exechange) — London, United Kingdom, April 06, 2017 — Roger Millay, finance chief of Willis Towers Watson, leaves — “voluntarily”. His departure is made public at an early stage. As announced by Willis Towers Watson Public Limited Company in a news release and in a regulatory filing published on Thursday, April 06, 2017, Roger F. Millay leaves the post as Chief Financial Officer at the advisory and broking company in a surprising move after less than two years on the job, effective October 02, 2017.
No company wants a CFO to flame out in the first years.
Millay’s move comes 15 months after John Haley took over as CEO of Willis Towers Watson and 15 months after James F. McCann took over as chairman of Willis Towers Watson.
Willis Towers Watson will undertake a search for a successor.
“New life interests”
The management change is explained as follows. Millay said: “[U]pon turning 60 this Fall, I have decided to pursue new life interests.”
The phrase “new life interests” opens the door to speculation.
Precise information about the future plans of Millay was not immediately available.
Willis Towers Watson said: “On April 6, 2017, Roger Millay, the Chief Financial Officer of Willis Towers Watson Public Limited Company …, provided notice to the Company that he will voluntarily retire effective October 2, 2017.”
Chaired by James F. McCann
Willis Towers Watson Public Limited Company is chaired by James F. McCann.
James F. McCann has served as the Chairman of the board of directors of Willis Towers Watson since January 4, 2016.
CEO: John Haley
John J. Haley has served as the Chief Executive Officer of Willis Towers Watson since January 4, 2016. Previously, he served as the Chief Executive Officer and Chairman of the board of directors of Towers Watson beginning on January 1, 2010, and as President beginning on October 3, 2011.
On the job as CFO since 2016
Millay has been the Chief Financial Officer of Willis Towers Watson Public Limited Company since January 04, 2016.
Millay has over 25 years of experience in financial officer positions.
He served as the Chief Financial Officer and Vice President at Towers Watson & Co. since January 01, 2010.
Prior to that held the same position at Watson Wyatt.
Before joining Watson Wyatt, he served as senior executive vice president and CFO at Discovery Communications LLC, a global cable TV programmer and digital media provider.
Millay has more than 25 years of experience in financial officer positions, including roles at Arthur Young & Company, Citigroup and GE Capital.
Millay has a bachelor’s degree from the University of Virginia and a master’s degree in accounting from Georgetown University’s Graduate School of Business.
He also is a certified public accountant.
As a general rule, when a top leader announces to step aside with no successor available, it’s a sign that the move was unexpected and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Roger Millay’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 15.2017 ($).