Summary
Arthur J. Gallagher & Co. (AJG) filed a Form 8-K on January 27, 2008, reporting a significant change in its Board of Directors. The company announced the unanimous decision by its Board to increase the size of the Board from nine to ten directors. This expansion was made to accommodate the election of a new director. Specifically, Norman L. Rosenthal, Ph.D., was elected to serve as a Class III Director, effective immediately. He will serve until the 2008 Annual Meeting of Stockholders. Mr. Rosenthal has also been appointed to the Audit Committee of the Board. This addition to the Board and its committees suggests a focus on governance and oversight.
Key Highlights
- 1Board size increased from 9 to 10 directors.
- 2Norman L. Rosenthal, Ph.D. elected as a new Class III Director.
- 3Mr. Rosenthal's appointment is effective immediately.
- 4Mr. Rosenthal will serve until the 2008 Annual Meeting of Stockholders.
- 5Mr. Rosenthal has been appointed to the Audit Committee of the Board.
- 6No arrangements or understandings exist between Mr. Rosenthal and other parties regarding his election.
Frequently Asked Questions
The main purpose of this 8-K filing is to report changes in the composition of Arthur J. Gallagher & Co.'s Board of Directors, specifically the increase in board size and the appointment of a new director.
Norman L. Rosenthal, Ph.D. has been elected as a new Class III Director.
Mr. Rosenthal has been appointed to serve on the Audit Committee of the Board.
Mr. Rosenthal will serve until he stands for re-election at the 2008 Annual Meeting of Stockholders of Gallagher.