Global insurance broker Aon has announced a significant leadership reshuffle, appointing Kai-Frank Buechter and Tracy-Lee Kus as co-chief executives for the EMEA region effective June 1. Pedro Penalva will assume the role of CEO for Latin America from July 1, marking one of the company’s most substantial executive reorganisations in recent years.
In addition, Alfonso Gallego de Chaves has been appointed deputy CEO of EMEA from June 1, while Andrea Parisi will take on the position of chair of Continental Europe beginning January 1, 2027.
Both Gallego de Chaves and Parisi will report directly to Buechter. Meanwhile, Aon’s North America and Asia-Pacific businesses will continue to be led by Anne Corona and Jennifer Richards respectively.
The leadership overhaul comes as Aon moves into the final year of its 3×3 Plan, introduced in October 2023. The strategy is focused on three core areas — risk capital, human capital, and accelerating business services — and is supported by an estimated $900 million restructuring initiative.
The programme remains on track to generate approximately $350 million in annualised savings by the end of the year, with Aon maintaining its forecast of mid-single-digit or higher organic revenue growth for 2026.
Buechter steps into the EMEA leadership role after more than 26 years with Aon, most recently serving as CEO of the DACH region, which includes Germany, Austria, and Switzerland. During his tenure, he also held leadership roles as CEO of Aon Risk Solutions Germany and chairman of the management board at Aon Holdings Deutschland GmbH.
Kus brings over 30 years of experience in underwriting and broking across South Africa, the UK, and Asia. She most recently led Aon’s Global Broking Center and will continue in that role until a successor is appointed.
She also serves as chair of the London and International Insurance Brokers’ Association (LIIBA). Earlier in her career, Kus held senior positions including head of commercial risk for APAC, head of North Asia, and leader of Aon’s Financial and Professional Services business in the UK.
Penalva, who has spent more than 15 years with Aon, most recently led Enterprise Clients for EMEA, overseeing relationships with more than 150 enterprise clients across 10 countries. His previous leadership positions include CEO of Iberia, Africa and Israel, as well as CEO of Aon Portugal. He will remain in his current position until a replacement is appointed.
