Lloyd’s Register picks Sadler for CEO

LloydÆs Register picks Sadler for CEO After the more than a year's search, London-based risk management organization Lloyd's Register Group has named Richard Sadler as its chief executive officer.
   Sadler has been with Lloyd's Register since 1976, apart from a two-year stint with the Royal Bank of Scotland as its director of ship asset management. He rejoined Lloyd's Register last year and was most recently its director for Europe, Middle East and Africa (EMEA). He will officially take over as CEO July 1, but the transfer of day-to-day operational responsibilities will begin immediately.
   In 2005, Executive Chairman David Moorhouse said he intended to relinquish executive responsibility for the group by the end of June 2007. Moorhouse will stay on as chairman thereafter.
   Lloyd's Register's activities cover shipping, railways, other land-based industries and oil and gas.
   'I will soon be at the helm of an organization which is now expected to turn over '0.5 billion ($979 million) this year through the provision of its risk management services, and that is due in large part to David's leadership over the past seven and a half years,' Sadler said.