Summary
Marsh & McLennan Companies, Inc. (MRSH) filed an 8-K on January 6, 2014, to report the resignation of a long-standing Board member, Zachary W. Carter. Mr. Carter, who has served on the Board since 2004, will step down effective January 17, 2014, and will not seek re-election at the upcoming 2014 annual meeting. This departure is not due to any disagreements with the Company, but rather due to his appointment as New York City's corporation counsel under Mayor-elect Bill de Blasio.
Key Highlights
- 1Zachary W. Carter, a Director since 2004, is resigning from the Board.
- 2The resignation is effective January 17, 2014.
- 3Mr. Carter will not stand for re-election at the 2014 annual meeting.
- 4The resignation is voluntary and not a result of any disagreement with the Company.
- 5Mr. Carter has been appointed as New York City's corporation counsel.
- 6This information is disclosed under Item 5.02(b) of Form 8-K.
Frequently Asked Questions
Zachary W. Carter is resigning from the Board of Directors to accept the position of New York City's corporation counsel, a role he was appointed to by Mayor-elect Bill de Blasio.
Mr. Carter's resignation will be effective January 17, 2014.
No, the filing explicitly states that Mr. Carter's resignation is not due to any disagreements with the Company. His departure is to fulfill his new public service role.
Mr. Carter has been a member of the Board since 2004, providing over nine years of service. Investors may consider the impact of losing this tenure, although the filing does not provide further details on the Board's composition or succession planning.