Arch Capital Group Ltd., the Bermuda based insurance and reinsurance firm, has announced the resignation from its Board of CEO of The Guardian Life Insurance Company of America Deanna Mulligan.
Mulligan has taken the step to resign from the Arch Board of Directors due to a “potential future conflict of interest” which is not explained any further in the announcement.
Whether Arch has interest in the insurer Mulligan works for, or is set to go into competition with it, or perhaps Mulligan is set to take on another position that would put her in conflict with Arch, or something else, is not explained, but conflicts such as these can easily arise with board positions.
Constantine (Dinos) Iordanou, Chairman and CEO of Arch, commented; “Deanna has been a valuable Director since she joined our Board in May 2013. We will miss her counsel and advice.”
Kewsong Lee, Lead Director and Chairman of the Executive and Nominating Committees for the board, added; “The Board of Directors and I would like to thank Deanna for her service. She made a significant contribution to the Board during her tenure.”