Taranto gets second stab at retirement but stays on an extra year

Everest Re chief financial officer Dominic Addesso will succeed current chief executive Joseph Taranto on 1 January 2014.

Taranto is making his second attempt to retire, after his previous attempt was scuppered by the departure of his anointed successor, chief operating officer Ralph Jones, in October 2010.

Taranto had originally intended to retire at the end of 2010, handing the reins to Jones at the beginning of 2011.

Following Jones’ departure, Taranto agreed to stay on as chief executive until the end of 2012. However, he as now agreed to run the company for another year to complete the handover to Addesso.

Taranto said in a statement: “I am pleased to continue to lead our team through next year and that Dom will assume the helm and lead our team for many years thereafter.

“Dom is an extraordinarily capable, experienced, and ethical executive. Our company has never been stronger and the future has never been brighter.”

Addesso added: “I am most appreciative of the support and confidence of the board. I look forward to the challenge of building upon the extraordinary foundation of success set by Joe.”