At the annual shareholders meeting Thursday, MarshMac CEO Brian Duperrault said the company is not considering breaking up, despite a lot of whispering otherwise. Rumors have it that MarshMac is considering selling Kroll, a subdivision that provides risk consulting and technology services, and that the sale is a prelude to breakup. Duperrault is trying to quiet the murmur. National Underwriter quotes Duperrault:
“Every one of these brands are all great companies in their own right; the question is, is there some value in the combination from a joint management point of view?
“I have come to the conclusion that this can be an elite company, and it will be an elite company, because these companies are together and not apart. I don’t think that their future individually would be as rosy as it would be in combination.”
He said his plan is to continue with the company together “and I think we can create an amazing organization in its combination.”
However, Mr. Duperreault said nothing to squelch speculation in the press that MMC is looking for a buyer of Kroll, saying the meeting was not the place to get into a discussion about that subsidiary’s future.
Well, if the annual shareholders meeting is not the time to discuss the future of a key subsidiary, what might a better time be?
More on Kroll and rumors here.