Tower Group Names William Fox To Replace Michael Lee As CEO

(RTTNews) - Tower Group International, Ltd. (TWGP) Friday said its Chairman, President, and Chief Executive Officer Michael Lee has resigned effective immediately, to pursue other career opportunities.

The Bermuda-based global insurance and reinsurance holding company further said it would appoint William Fox, Jr. as president and CEO, and Van Gorder, the lead independent director, as Chairman of the Board. The 72-year old Fox has been serving on the Board of Tower Group since April 2006. He has over 40 years of experience in the insurance and reinsurance industry. Earlier, Fox has served as CEO of Excess Reinsurance Company and had founded the PW Reinsurance Management Group.