8-KLeadership ChangesRegulation FDExhibits & Filings

Aon plc 8-K Report, Executive Changes (Jun 4, 2024)

Filed June 4, 2024For Securities:AON

Summary

Aon plc (AON) has filed an 8-K report on June 4, 2024, announcing a significant leadership change in its finance department. Edmund Reese will join the company as Executive Vice President, Finance, effective July 1, 2024, and will assume the role of Chief Financial Officer (CFO) on July 29, 2024. Mr. Reese brings extensive financial experience from his previous roles at Broadridge Financial Solutions, Inc. and American Express, where he held CFO and senior finance positions. This appointment marks the transition from Christa Davies, who will retire as CFO after over 16 years of service. Ms. Davies will continue in her role until July 29, 2024, and will then serve as a senior advisor during a transition period. The filing details Mr. Reese's compensation package, including base salary, incentive awards, and long-term equity grants, reflecting his senior executive status and the company's investment in his leadership.

Key Highlights

  • 1Edmund Reese appointed as Executive Vice President, Finance, effective July 1, 2024.
  • 2Edmund Reese to become Chief Financial Officer (CFO) effective July 29, 2024.
  • 3Mr. Reese has a strong background with prior CFO roles at Broadridge Financial Solutions and extensive experience at American Express.
  • 4Christa Davies, current CFO, will retire on July 29, 2024, after more than 16 years with Aon, transitioning to a senior advisor role.
  • 5Mr. Reese's compensation includes a base salary of $1,000,000, target annual incentive of 200% of base salary, and a significant long-term incentive award for 2025 valued at $5,000,000.
  • 6Additional awards for Mr. Reese include performance share units and restricted share units, totaling $5,000,000, with specific vesting conditions.
  • 7A lump sum sign-on bonus of $1,000,000 is included, payable after the first anniversary of his start date, contingent on continued employment.

Frequently Asked Questions

Edmund Reese will be appointed as the new Chief Financial Officer (CFO) of Aon plc, effective July 29, 2024. He will first join the company as Executive Vice President, Finance, starting July 1, 2024.

Mr. Reese, aged 49, has a robust financial background. Most recently, he served as Corporate Vice President and CFO of Broadridge Financial Solutions, Inc. Prior to that, he spent significant time at American Express, holding positions such as Senior Vice President and CFO of the Global Consumer Services Group, and various other financial leadership roles.

Mr. Reese's compensation includes an initial base salary of $1,000,000, an annual incentive award target of 200% of his base salary, and a 2025 long-term incentive award of $5,000,000. He will also receive significant equity awards (performance share units and restricted share units totaling $5,000,000) and a $1,000,000 sign-on bonus payable on the first anniversary of his start date, subject to certain conditions.

Christa Davies, the current CFO, will be retiring from her position on July 29, 2024, after over 16 years of service. She will remain with Aon plc as a senior advisor for a transition period following her retirement from the CFO role.