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Aon Executive Chairman Ryan to Retire



By AP
19 March 2008 @ 06:43 pm EST

CHICAGO - Insurer Aon Corp. said Wednesday its founder Patrick G. Ryan plans to retire as executive chairman effective Aug. 1.

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Ryan, 70, has served as CEO for 41 years. He has been executive chairman for three years.

The company did not detail plans to replace Ryan in a statement.

Shares of Aon fell 56 cents to close at $40.54.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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