Summary
Brown & Brown, Inc. (BRO) filed an 8-K on January 6, 2010, to announce a significant leadership change. Jim W. Henderson, Vice Chairman, Chief Operating Officer, and a Board member, will retire in August 2010. This retirement will also include his departure from all officer and director roles within the Company's subsidiaries. As a direct consequence of his planned retirement, Mr. Henderson will not seek re-election to the Board of Directors at the upcoming 2010 annual shareholders' meeting. This announcement signals a transition in key executive and board leadership for Brown & Brown, Inc., and investors will likely be monitoring the company's succession planning and its impact on future operations and strategy.
Key Highlights
- 1Jim W. Henderson, Vice Chairman and Chief Operating Officer of Brown & Brown, Inc., has announced his retirement, effective August 2010.
- 2Mr. Henderson will also step down from all director and officer positions held with the Company's subsidiaries.
- 3He will not stand for re-election to the Board of Directors at the 2010 annual shareholders' meeting.
- 4This announcement, filed on January 5, 2010, marks a significant leadership transition for the company.
- 5The filing is made under Item 5.02 of Form 8-K, concerning departures of directors or officers.
- 6Cory T. Walker, Sr. Vice President, Treasurer, and Chief Financial Officer, signed the filing on behalf of the company.
Frequently Asked Questions
Jim W. Henderson, who holds the positions of Vice Chairman, Chief Operating Officer, and is a member of the Board of Directors, is retiring.
His retirement is scheduled to be effective in August 2010.
No, as a result of his impending retirement, Mr. Henderson will not stand for re-election to the Board of Directors at the Company's 2010 annual meeting of shareholders.
Yes, his retirement includes stepping down from any director and officer positions held with any of Brown & Brown, Inc.'s subsidiaries.