Insurance broker Brown & Brown, Inc. announced the initial implementation of an executive succession plan, which contemplates J. Powell Brown ultimately assuming the office of chief executive officer in July 2009, the date upon which Hyatt Brown has indicated that he intends to retire from that position.
As an initial step toward this agreed objective, Jim W. Henderson, currently the president and chief operating officer, has been promoted to the office of vice chairman, while J. Powell Brown, currently the regional executive vice president responsible for certain wholesale brokerages and public entity operations, has been elected president of the Florida-based company. Henderson will continue to serve as the COO, and will continue to report to the chairman and CEO, and Powell Brown will continue to report to Henderson.
Henderson was elected president and COO in 2002 and serves as a director of the company, and as a director and executive officer of several of the company’s subsidiaries.
Brown has been a regional executive vice president since 2002 and also serves in an executive officer capacity for certain Brown & Brown subsidiaries. He oversees most of the wholesale brokerage and public entity operations located throughout the country.
Source: Brown & Brown, Inc.
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