Willis Towers Watson Announces Changes with Respect to the Board of Directors

About this update from Willis Towers Watson Public Limited Company

[{"type":"text","content":"Appointment of Four New Directors Supported by Elliott Management to Oversee Execution of the Company’s New Strategic Plan New Board-Level Committee to Help Oversee the Company’s Operational Transformation Plan DUBLIN, Ireland, Nov. 18, 2021 (GLOBE NEWSWIRE) -- Willis Towers Watson (the “Company”) is pleased to announce that it has selected Inga Beale, Fumbi Chima, Michael Hammond, and Michelle (Shelly) Swanback to join its Board of Directors. As previously announced, the Company had been engaging in a thorough, multi-year succession planning process prior to announcing the transaction with Aon in March 2020, including planning with respect to the composition of the Board. Today’s announcement, together with the CEO transition plan announced in August and the plans discussed in September at Investor Day, build upon this work. Three of the four new directors (Ms. Beale, Mr. Hammond and Ms. Swanback) will join the Board effective January 1, 2022, concurrent with the transition to Carl Hess as the new CEO. Ms. Chima will join the Board effective April 1, following her ending another commitment. The new directors were selected in connection with the Corporate Governance and Nominating Committee’s process, including with the assistance of a leading search firm, and following a constructive engagement with Elliott Investment Management L.P. (together with its affiliates, “Elliott”), one of the Company’s largest investors. In order to facilitate the director transition process, Jaymin Patel has decided to step down from the Board on January 1, at the time three of the new directors join the Board. Mr. Patel had previously been considering transitioning off the Board at the end of his term to spend more time on other commitments and agreed to accelerate this to coincide with new directors’ joining the Board. In addition, Victor Ganzi has decided not to stand for re-election to the Board but will continue to serve as a member of the Board and as Chair through the end of his current Board term, which runs until the 2022 annual meeting of shareholders. He has chosen to do this to facilitate the director transition process and to spend more time on other commitments. The Board thanks Mr. Ganzi and Mr. Patel for their years of dedicated service to the Company. In addition, in connection with the transition to the new CEO and the addition of ...

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