The Argus Group Announces Board and Byelaw changes - Argus Bermuda
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The Argus Group Announces Board and Byelaw changes
Hamilton, Bermuda (December 29, 2023) - Argus Group Holdings Limited (the “Group”; “the Company”; the “Argus Group”) today announces certain Board and Byelaw changes pursuant to its AGM held on 29 December 2023.
At the AGM, the Company’s shareholders approved amendments to the Company’s Byelaws to reduce the board size to a maximum of nine Directors (previously the maximum was 12), and to introduce nine-year term limits for directors of the Company.
In line with these Byelaw amendments, four Directors did not stand for re-election to the Board – Paul C. Wollmann, Peter R. Burnim, Timothy C. Faries, and Alison S. Hill as they would have exceeded the new nine-year term limit. Alison Hill will remain as Chief Executive Officer of the Company. In their places, and given the new maximum of nine Directors, three new Directors have been appointed - Sergio Munoz, Cole Simons JP, and Christian Teixidor Andersen. These appointments remain subject to regulatory approval by the BMA.