Management ChangeAug 10, 2026, 06:51 AM
Brown & Brown EVP P. Barrett Brown Resigns; Transition Agreement
AI Summary
Brown & Brown, Inc. announced that P. Barrett Brown, Executive Vice President and former President of the Retail Segment, voluntarily resigned effective August 10, 2026. A Transition Agreement was entered into, under which Mr. Brown will continue employment until July 31, 2027, providing transition services. During this period, he will receive his $1,000,000 annual base salary and be eligible for a $1,300,000 bonus. Additionally, he will receive a $130,000 lump sum for expenses and $2,500,000 in severance pay, subject to terms including a one-year non-compete clause.
Key Highlights
- P. Barrett Brown resigned as Executive Vice President, effective August 10, 2026.
- He will continue employment through a Transition Period until July 31, 2027.
- During transition, he will receive his current annual base salary of $1,000,000.
- He is eligible for a total bonus of $1,300,000, paid in two $650,000 installments.
- He will receive a $130,000 lump sum for expenses.
- Severance pay of $2,500,000 will be paid in August 2027 and August 2028.
- Mr. Brown agreed to a one-year covenant not to compete with the Company.
Price Impact
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