8-KOther EventsExhibits & Filings

MARSH & MCLENNAN COMPANIES, INC. 8-K Report, Corporate Update (Nov 19, 2015)

Filed November 19, 2015For Securities:MRSHMMC

Summary

Marsh & McLennan Companies, Inc. (MRSH) announced a significant leadership transition involving its Board of Directors. H. Edward Hanway is slated to succeed Lord Ian Lang as the Independent Chairman of the Board, effective after the annual meeting of stockholders in May 2016. This change is prompted by Lord Lang's retirement, aligning with the company's corporate governance guidelines regarding mandatory retirement age. Lord Lang, who has been a director since 1997 and Independent Chairman since 2011, will step down after a substantial tenure. Mr. Hanway, a current director since 2010 and former CEO of CIGNA Corporation, brings extensive leadership experience to the role. This planned succession indicates a focus on continuity and experienced leadership within the company's governance structure.

Key Highlights

  • 1H. Edward Hanway will become the new Independent Chairman of the Board, succeeding Lord Ian Lang.
  • 2The leadership transition is scheduled to occur following the annual meeting of stockholders in May 2016.
  • 3Lord Ian Lang is retiring due to the company's mandatory retirement age policy for directors.
  • 4H. Edward Hanway has been a member of the Board of Directors since 2010.
  • 5Mr. Hanway has prior experience as Chairman and CEO of CIGNA Corporation (2000-2009).
  • 6Lord Lang has served as Independent Chairman since May 2011 and has been a director since 1997.
  • 7The company issued a press release on November 19, 2015, to announce this leadership change.

Frequently Asked Questions

H. Edward Hanway, age 63, is a current member of Marsh & McLennan's Board of Directors since 2010. He brings significant executive leadership experience, having served as Chairman and Chief Executive Officer of CIGNA Corporation from 2000 to 2009. He also currently chairs the Compensation Committee and serves on the Executive and Finance Committees of the Marsh & McLennan Board.

Lord Ian Lang is retiring as Independent Chairman of the Board due to the company's corporate governance guidelines, which stipulate a mandatory retirement age for directors.

The transition is planned to take place following the annual meeting of stockholders in May 2016, at which point Lord Lang will retire.

This planned succession indicates a focus on experienced leadership and continuity in the company's governance. The appointment of H. Edward Hanway, with his extensive background, including CEO experience, suggests a stable and seasoned leadership team overseeing the company's strategic direction.