James River chairman to retire

Bermuda-based James River Group Holdings. has announced that non-executive chairman, founder and former chief executive officer Adam Abram (pictured) is to step down.

Pending his re-election as a director at the company's annual general meeting, the Board has elected Ollie Sherman as its next non-executive chairman.

“Serving James River as CEO and chairman has been an honour," Abram said. "I am very proud of all the company has achieved, and excited for the future of the company, as it is well-positioned to continue executing on its transformation under outstanding leadership.”

Frank D’Orazio, the company’s CEO, said: “Adam and I have worked closely together during my tenure as CEO, and I have appreciated his valuable counsel and camaraderie. He has been instrumental to James River’s success throughout his tenure serving as chief executive officer and chairman. On behalf of the board and the entire company, I want to extend my appreciation to Adam for his longstanding leadership and the foundation he established during his 20-year commitment to James River.

“I am very excited to continue to partner with Ollie in his new leadership position,” added Mr D’Orazio. “He has been a cogent and thoughtful presence on the Board, especially through his leadership on the nominating and corporate governance and audit committees. I am thrilled that the Company will continue to benefit from his insightful counsel in his new role.”