8-KLeadership ChangesExhibits & Filings

BROWN & BROWN, INC. 8-K Report, Executive Changes (Jan 26, 2021)

Filed January 26, 2021For Securities:BRO

Summary

This 8-K filing from Brown & Brown, Inc. (BRO) primarily announces a key leadership transition within its Wholesale Brokerage Segment and the departure of a long-serving director. Anthony T. Strianese has been appointed as Chairman of the Wholesale Brokerage Segment, a move that signals continued focus and experience guiding this important division. He retains his Executive Vice President role, suggesting a seamless transition and continued involvement. Furthermore, Samuel P. Bell, III, a director, has decided not to stand for re-election at the upcoming 2021 Annual Meeting. While this marks the end of his voting tenure, the company has recognized his "long and distinguished service" by appointing him as director emeritus. This allows Brown & Brown to continue benefiting from his advisory counsel, albeit in a non-voting capacity. Investors can view the official press release detailing Mr. Strianese's appointment as Exhibit 99.1.

Key Highlights

  • 1Anthony T. Strianese appointed Chairman – Wholesale Brokerage Segment, effective January 21, 2021.
  • 2Mr. Strianese continues to serve as an Executive Vice President of the Company.
  • 3Samuel P. Bell, III will not stand for re-election at the 2021 Annual Meeting of Shareholders.
  • 4Mr. Bell's departure from the board is not due to any disagreements with the Company.
  • 5Mr. Bell designated as director emeritus to provide ongoing advisory counsel.
  • 6Director emeritus role includes attendance at Board meetings in an advisory capacity, without voting rights.
  • 7A press release regarding Mr. Strianese's appointment is included as Exhibit 99.1.

Frequently Asked Questions

The appointment of Mr. Strianese to Chairman of the Wholesale Brokerage Segment suggests a continued strategic focus on this division and a desire to leverage his experience in leadership. His continued role as Executive Vice President indicates a smooth transition and ongoing executive involvement.

Mr. Bell has decided not to stand for re-election at the 2021 Annual Meeting of Shareholders. The company explicitly states this decision was not due to any disagreements regarding the Company's operations, policies, or procedures, implying a voluntary or planned departure.

As a director emeritus, Mr. Bell will continue to provide valuable counsel to the Board by attending meetings in an advisory capacity. However, he will not have voting rights on any Board matters. The company also notes he will receive compensation deemed appropriate for his continued advisory services, recognizing his extensive contributions.

The press release announcing Mr. Strianese's appointment is filed as Exhibit 99.1 to this Form 8-K, which is publicly available through the SEC's EDGAR database or Brown & Brown's investor relations website.