Richard Winchell is to retire from the Association of Bermuda International Companies.

He was the first executive director of Abic and has served since the beginning in 2006.

Mr Winchell will formally vacate the post at the end of the year. He has substantially grown the role to the point that the organisation will have to head hunt a new executive to take his place.

Abic said: “During his tenure, he has built strong working relationships between the international business community and the Bermuda government focused on the cost of doing business in Bermuda, immigration reform and supporting careers in international business.

“These key policies serve the local community and maintain Bermuda’s strong reputation as a business-friendly domicile.”

The organisation’s membership has grown to 120 international companies, allowing Abic to support several programmes under the executive director’s direction, including providing education grants to more than 300 ABICEA recipients; implementing curriculum into schools to educate students about the international business industry and opportunities for Bermudians; supporting the Bermudascholarships.com website, the Everybody’s Business campaign and International Business Week.

Most recently, Abic has been a leader and advocate in promoting and educating diversity equity and inclusion throughout the industry.

Patrick Tannock, Abic chairman, and CEO of AXA XL’s Bermuda Insurance Operations said: “On behalf of the Abic board, I would like to thank Richard for his unwavering dedication, leadership, and service throughout the past 16 years.

“We will certainly miss his valuable input, enthusiasm, and energy. He is leaving big shoes to fill. Work is under way to identify Richard’s successor and to ensure a smooth transition.”

Abic continued: “The role of the Abic executive director has grown significantly over the past 16 years and the board is seeking an experienced and capable leader with a proven track record of successful stakeholder engagement.

“We encourage qualified candidates to apply through Expertise, who are managing this important recruitment. Abic is a membership organisation dedicated to improving Bermuda’s business environment for international companies.

“Abic promotes and preserves a sound business environment for international business and the Bermuda community and ensures that Bermuda continues as the business domicile of choice.

“Abic also administers a major educational award programme offering significant financial support to promising local students pursuing higher education abroad, primarily in fields related to international business.”