Arch Capital Group Ltd. has announced a leadership transition, with Nicolas Papadopoulo being appointed as the new Chief Executive Officer (CEO) and joining the board of directors, effective immediately. Papadopoulo has held the positions of President and Chief Underwriting Officer since 2021 and has been with the company since 2001. Marc Grandisson, who has served as CEO since 2018, has decided to retire from the company.
Papadopoulo mentioned that Arch has achieved record success since its formation, and that the existing strategies of cycle management and thoughtful capital allocation remain the company’s priorities.
As of June 30, 2024, Arch Capital Group Ltd. is a publicly listed Bermuda exempted company with approximately $23.4 billion in capital and is part of the S&P 500 index.
This is a significant change in leadership for the company, with Papadopoulo taking over from Grandisson, who has been with Arch since 2001 and has been credited with the company's outstanding growth and profitability during his tenure as CEO. As a result of these announcements, the company's shares have moved 0.7% on the market, and are now trading at a price of $108.8. Check out the company's full 8-K submission here.
