Hardis Elected Non-Exec Chairman of Marsh & McLennan

May 18, 2006

Marsh & McLennan Companies, Inc. named Stephen R. Hardis non-executive chairman of the board at its annual shareholder meeting today. Hardis succeeds Robert F. Erburu, who is retiring from the board after reaching the directors’ retirement age under MMC’s corporate governance guidelines.

Erburu, who joined the MMC Board in 1996, served as non-executive chairman of MMC since March 2005 and as lead director since October 2004.

Hardis, 70, has been a member of the MMC Board since 1998. He served as the chairman and chief executive officer of Eaton Corporation until his retirement in 2000, and then as chairman of Axcelis Technologies, Inc. from 2000 until May 2005.

Shareholders also elected the following four directors to three-year terms expiring in 2009: Leslie M. Baker, Jr.; Gwendolyn S. King; Marc D. Oken; and David A. Olsen.

President and Chief Executive Officer Michael G. Cherkasky reported at the meeting that MMC is making progress in its recovery. A component of this recovery is MMC’s role in helping companies manage the uncertainty and increasingly complex risk issues they face as a result of rapid global change, including pandemic, climate change, terrorism and pension liabilities.

A webcast of the meeting can be accessed at www.mmc.com.

Source: Marsh & McLennan

Topics Marsh McLennan

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