Who is H. Edward Hanway and why is his appointment significant?

H. Edward Hanway is a seasoned executive who has been elected to Marsh & McLennan Companies' Board of Directors. His significance stems from his extensive leadership experience, most notably his tenure as Chairman and CEO of CIGNA Corporation from 2000 to 2009. His appointment brings valuable industry and executive insight to MMC's board.

Is Mr. Hanway considered an independent director?

Yes, the Board of Directors has determined that Mr. Hanway meets the independence standards set forth by the New York Stock Exchange and Marsh & McLennan's own corporate governance guidelines.

Which committees will Mr. Hanway be serving on?

Mr. Hanway has been appointed to serve on two key committees: the Audit Committee and the Corporate Responsibility Committee. This indicates his involvement in critical areas of financial oversight and corporate governance.

How will Mr. Hanway be compensated for his role on the Board?

As a non-management director, Mr. Hanway's compensation will be in line with the company's established director compensation practices, as detailed in MMC's proxy statement for its 2009 annual meeting of stockholders.

MRSH/MMC 8-K: Leadership Changes

Summary

Marsh & McLennan Companies, Inc. (MMC) announced a significant addition to its Board of Directors with the election of H. Edward Hanway, effective January 20, 2010. Mr. Hanway brings extensive executive leadership experience, having served as Chairman and CEO of CIGNA Corporation from 2000 to 2009. His appointment is considered noteworthy for the strategic insights he may bring to MMC's governance and oversight. The Board has affirmed Mr. Hanway's independence according to NYSE and MMC's corporate governance standards. Furthermore, he has been appointed to key committees: the audit committee and the corporate responsibility committee. These committee assignments suggest a focus on financial oversight and governance matters, areas where Mr. Hanway's prior experience as CEO of a major insurance and financial services company would be highly relevant.

Key Highlights

1H. Edward Hanway elected to the Board of Directors, effective immediately (January 20, 2010).
2Mr. Hanway previously served as Chairman and CEO of CIGNA Corporation from 2000 to 2009.
3The Board has determined Mr. Hanway to be an independent director under NYSE and MMC guidelines.
4Mr. Hanway appointed to serve on the Audit Committee.
5Mr. Hanway appointed to serve on the Corporate Responsibility Committee.
6Compensation for Mr. Hanway as a non-management director will follow the company's standard director compensation policy.

MARSH & MCLENNAN COMPANIES, INC. 8-K Report, Executive Changes (Jan 20, 2010)

Summary

Key Highlights

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