Business Context and Reporting Period
This Form 8-K Current Report was filed by Willis Group Holdings Limited on November 9, 2005. The registrant is incorporated in Bermuda and operates as a global professional services firm. The report primarily addresses a change in senior management rather than financial performance for a specific period.
Key Financial Metrics
The filing does not provide financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial data disclosed relates to executive compensation:
- Annual Base Salary for New CFO: GBP 265,000.
- Additional Compensation: Eligible for annual incentive compensation, pension, and other benefits commensurate with other senior officers.
- Equity Participation: Eligible to participate in the Company's share programs.
Material Changes
The material change reported is the appointment of Patrick Regan as Chief Financial Officer (CFO). Mr. Regan, aged 39, joins from Royal & Sun Alliance, where he served as Group Financial Controller. He previously held finance leadership roles at Axa Insurance and GE Capital. This appointment marks a transition in the CFO role, as the current CFO, Thomas Colraine, will hand over the position after the end of 2005.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or management commentary regarding future business performance. No specific risks or contingencies are disclosed in this report. The document notes that Mr. Regan will report to Thomas Colraine to ensure continuity in financial operations during the transition period.
Investor Verification Checklist
- Verify the effective date of Patrick Regan's assumption of the CFO role relative to the end of 2005.
- Review the full Employment Agreement (Exhibit 10.29) for details on termination provisions and specific incentive structures.
- Confirm the transition plan for Thomas Colraine's departure from the CFO role.
- Check subsequent filings for the first financial results under the new CFO leadership.