Arch said Marc Grandisson will retire, ceasing to be CEO and a board member on October 15, 2024. The board approved Nicolas Papadopoulo as CEO and director effective October 13, 2024.

1. 01

   Arch said Marc Grandisson will retire, ceasing to be CEO and a board member on October 15, 2024. The board approved Nicolas Papadopoulo as CEO and director effective October 13, 2024.

2. 02

   Under the amendment to his employment agreement, Papadopoulo's base salary will be $1,300,000 a year and his target annual bonus will be 200% of base salary, the company said. The amendment is dated October 13, 2024 and amends his employment agreement dated September 19, 2017.

3. 03

   The company said that if Papadopoulo resigns for Good Reason or the company terminates him without Cause, he would receive base salary for the 6-month notice period and for the excess of 24 months over any garden leave months, 200% of his annual target bonus, a pro-rated target bonus, and up to 18 months of continued major medical insurance coverage.

4. 04

   The company said Papadopoulo, age 62, has been President and Chief Underwriting Officer since January 2021. It said he joined Arch Reinsurance Ltd. in December 2001. It also said he was Chairman and Chief Executive Officer of Arch Reinsurance Group from July 2014 to September 2017.

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