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William M. McCormick, who was sent five years ago by American Express to salvage a claim-ridden Fireman’s Fund Insurance Co. and then guided the firm back to profitability and independence as a publicly traded company, will step down before year-end as chairman and chief executive. McCormick’s duties will be assumed by John J. Byrne, chairman of the Fireman’s Fund holding company in Greenwich, Conn., which principally directs investments of the 126-year-old property liability insurer.
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