Jules B. Kroll, the founder of Marsh & McLennan Cos.'s corporate security firm Kroll, plans to retire in July, the insurance brokerage said Friday.
Kroll, 67, founded Kroll Associates in 1972 as a consultant to corporate purchasing departments. The company grew to specialize in risk mitigation, forensic accounting, data recovery, employee screening and corporate risk assessment and consulting.
Marsh bought the company for $1.9 billion in 2004. Ben Allen, appointed president and chief executive in March, will serve as interim head of the consulting practice, effective June 16, until new leadership is established, a company spokesman said.
Kroll has 65 offices in 33 countries and employs 3,800 people worldwide.
Marsh shares added 6 cents to $26.21 in morning trading.
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