Following Aon PLC’s recent move to sell its benefits outsourcing division, Aon Hewitt CEO Kristi Savacool has opted to transition from executive into a short-term consultant for the Illinois-based human capital and risk management consulting firm.
Savacool worked with Aon Hewitt for 12 years. Before becoming CEO, she led the company’s benefits administration unit. Previously, she served Boeing Co. in a variety of capacities.
Under the terms of her separation agreement, Savacool is expected to receive $3 million in cash plus up to an additional $3 million in performance-based pay, according to the company.
“At the completion of the divestiture of Aon's outsourcing assets to Blackstone, Kristi Savacool is moving into a new role as special adviser to Aon President and CEO Greg Case,” Aon said in a statement. “For the remainder of 2017, Kristi will lead Aon’s efforts to successfully transition our joint clients and advise on strategic initiatives across Aon.”
Aon Corp. acquired Hewitt in 2010 in what Business Insurance called “the biggest deal ever involving a benefit consultant.” Aon purchased Hewitt in a $4.9 billion transaction; it was at that time that the company changed its name to Aon Hewitt Inc. to reflect the merger.
Aon Hewitt’s U.S. headquarters are in Lincolnshire, Illinois.
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