The board of Willis Towers Watson has unanimously selected Carl Hess to be its new president and next CEO.

New York-based Mr Hess, a WTW veteran of more than 30 years and currently Head of Investment, Risk and Reinsurance, succeeds John Haley upon his retirement as CEO on January 1.

WTW says the appointment follows a thorough, multi-year succession planning process to assess potential internal and external candidates.

“The board is confident Carl is the right person to guide the company forward,” Chairman Victor Ganzi said. “Carl is an exceptional leader with a strong track record of delivering results, depth of experience and understanding across Willis Towers Watson’s various businesses and a proven ability to bring together and motivate colleagues.”

Mr Hess began at WTW in 1989 and has held a variety of senior roles, including co-head North America and MD the Americas.

“I’m honoured by the opportunity to lead this exceptional company of talented, resilient and dedicated colleagues,” said Mr Hess, who is a Fellow of the Society of Actuaries.

“Willis Towers Watson is well positioned to compete vigorously across our businesses around the world. I look forward to working together to ensure a smooth transition over the next several months,” he said.

WTW has roots dating back to 1828 and employs 45,000 serving more than 140 countries. It will host an investor day on September 9.