Chief executive Shivan Subramaniam announces his retirement as the firm restructures its leadership

FM Global management

FM Global has announced executive vice-president Tom Lawson will succeed outgoing chief executive Shivan Subramaniam.

Lawson has also been appointed president and elected to the firm’s board of directors, effective from 1 August. As president, he will be responsible for the strategic and operational direction of the company, which insures almost $9trn (€6.61trn) in business property in more than 130 countries.

In addition, executive vice-president Jonathan Hall has been named chief operating officer as of 1 August. Hall, who joined in 1980, will oversee insurance operations and insurance staff functions.

Subramaniam will retire on 31 December, after 40 years with the company and will remain chairman of FM Global’s board of directors. He was named chief executive in 1999 and, since then, has helped the company grow from $1bn (€730m) to $5.6bn (€4.11bn) in annual revenue.

Subramaniam said: “I have worked with Tom and Jon for almost 16 years and have the utmost respect for the countless contributions they have made to help our policyholder-owners be more resilient.

“Their vast experience, leadership and deep understanding of our clients’ complex needs, combined with FM Global’s timeless business model, will ensure the continued success we share with our policyholders.”