Summary
Aon plc (AON) filed an 8-K report on October 1, 2010, detailing changes to its Board of Directors following the effective time of its merger with Hewitt Associates, Inc. The merger, which closed on September 27, 2010, resulted in the expansion of Aon's Board from fourteen to sixteen directors. Two new directors, Cheryl A. Francis and Judson C. Green, were elected to serve until Aon's 2011 annual meeting of stockholders. These appointments are a direct consequence of the merger and are intended to integrate leadership as the two companies combine. Investors should note that the new directors will receive compensation consistent with Aon's existing director compensation policies. While committee assignments for the new directors were not yet determined, their election signifies a key step in the post-merger governance structure of the combined entity.
Key Highlights
- 1Aon plc's Board of Directors was expanded from 14 to 16 members, effective September 27, 2010.
- 2Cheryl A. Francis and Judson C. Green were elected as new directors.
- 3The election of the new directors is a result of the recently completed merger with Hewitt Associates, Inc.
- 4The new directors will serve until Aon's 2011 annual meeting of stockholders.
- 5Ms. Francis and Mr. Green will be compensated for their board service in line with Aon's current director compensation policies.
- 6Committee assignments for the new directors were not yet determined at the time of filing.