From the Wires
Brown & Brown, Inc. Names Chief Compliance and Regulatory Officer and Announces Legal Department Promotions
By: Marketwired .
Nov. 6, 2012 01:11 PM
DAYTONA BEACH, FL and TAMPA, FL -- (Marketwire) -- 11/06/12 -- Brown & Brown, Inc. (NYSE: BRO) today announced that the Board of Directors has named Laurel L. Grammig, Vice President and Corporate Secretary, to the newly-created position of Chief Compliance and Regulatory Officer of the Company effective October 23, 2012. Ms. Grammig served as General Counsel for the Company and its subsidiaries from 1994 until 2009, when she was named Chief Corporate Counsel. In her new role, Ms. Grammig will have increased focus on compliance and regulatory issues, and will continue to have responsibility for corporate governance and securities law matters. Ms. Grammig is based in Tampa, Florida. Prior to joining the Company, she was a partner of the law firm of Holland & Knight LLP in Tampa.
The Company also announced the promotion of Mark E. King to the position of Chief Litigation Counsel effective June 1, 2012. Mr. King had served as Senior Litigation Counsel since 2009, and, prior to that, as Assistant General Counsel since joining the Company in 2003. Before joining the Company, Mr. King was a partner in the Birmingham, Alabama firm of Porterfield, Harper & Mills, where his practice was concentrated on litigation involving the defense of products liability and bad faith actions. He also served as Deputy District Attorney for the Tenth Judicial Circuit in Birmingham from 1990-93. Mr. King is based in Daytona Beach, Florida.
In addition, the Company announced that David B. Lotz, Vice President and Chief Acquisitions Counsel, joined the Company earlier in the year and assumed responsibility for leading the M&A legal team, which handles legal matters associated with acquisitions made by the Company and its subsidiaries. Mr. Lotz is also responsible for oversight of employment matters for these entities. Prior to joining the Company, Mr. Lotz was a partner of the law firm of Arnall Golden Gregory LLP in Atlanta, Georgia. Mr. Lotz is based in Daytona Beach.
Ms. Grammig, Mr. King and Mr. Lotz will continue to report to Robert W. Lloyd, Vice President and General Counsel of the Company.
With respect to these developments, Powell Brown, President and Chief Executive Officer and a member of the Board, commented, "The creation of the position of Chief Compliance and Regulatory Officer evidences our Board's recognition of the importance of compliance as we grow toward our $2 billion intermediate revenue goal." Mr. Lloyd added, "These changes enhance and better define the roles that these attorneys fill in our organization. I am confident that Laurel, Mark and David will continue to provide valued and valuable counsel in their respective areas of responsibility."
Brown & Brown, Inc. and its subsidiaries offer a broad range of insurance and reinsurance products and services, as well as risk management, third-party administration, managed health care, and Medicare set-aside services and programs. Providing service to business, public entity, individual, trade and professional association clients nationwide, the Company is ranked by Business Insurance magazine as the sixth largest independent insurance intermediary in the United States. The Company's web address is www.bbinsurance.com.
This press release may contain certain statements relating to future results which are forward-looking statements. These statements are not historical facts, but instead represent only the current belief of Brown & Brown, Inc. and its subsidiaries (collectively the "Company") regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. Further information concerning the Company and its business, including factors that potentially could materially affect the Company's financial results, are contained in the Company's filings with the Securities and Exchange Commission. All forward-looking statements included in this press release are made only as of the date of this press release, and the Company does not undertake any obligation to publicly update or correct any forward-looking statements to reflect events or circumstances that subsequently occur or of which the Company thereafter becomes aware.
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