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    J. Powell Brown

    President and Chief Executive Officer at Brown & Brown Inc
    Board
    Since July 2009
    Age
    57 years
    Tenure
    Joined the company in 1995 and has held roles including regional executive vice president starting in 2002, President since January 2007, and Chief Executive Officer since July 2009.

    Also at Brown & Brown Inc

    CLW
    Chris L. Walker
    EVP, President of National Programs
    JSP
    J. Scott Penny
    EVP, Chief Acquisitions Officer
    JLT
    Julie L. Turpin
    EVP, Chief People Officer

    About

    J. Powell Brown has deep family roots in the business, being the son of J. Hyatt Brown, the Chairman, and having a brother who is a senior executive in the company.

    Since joining the firm in 1995, his career trajectory showcases a rapid and steady progression with key roles such as a regional executive vice president starting in 2002, appointment as President in January 2007, and elevation to Chief Executive Officer in July 2009.

    In addition to his leadership within the company, he has enhanced his corporate governance experience by serving on the board of WestRock Company from 2010 until 2024. His tenure has been marked by significant contributions to the company’s performance, including driving organic revenue growth and margin improvement.

    $BRO Performance Under J. Powell Brown

    Past Roles

    OrganizationRoleDate RangeDetails
    WestRock Company Board of Directors Member 2010 - 2024 Former board membership
    Brown & Brown, Inc. (BRO) Regional Executive Vice President 2002 - January 2007 Served as Regional EVP before his promotion to President
    Brown & Brown, Inc. (BRO) Various Capacities 1995 - January 2007 Held multiple roles overseeing company segments prior to becoming President

    Fixed Compensation

    Data from  FY 2023
    Component NameAmountPayment ScheduleAdditional Details
    Salary$1,000,000 Annual 2023Fixed annual base salary
    Company Contributions to Retirement/401(k)$13,200 Annual 2023Contributions to retirement and 401(k) plans
    Perquisites and Other Personal Benefits$5,908 Annual 2023Includes reimbursement for financial and tax planning, club memberships, and car service expenses
    Cash Dividends on Stock Awards$289,170 Annual 2023Cash dividends paid on granted PSP, 2010 SIP, and 2019 SIP shares
    Other Compensation$36,267 Annual 2023Relocation expenses including $30,279 for housing and $5,988 for airline fare

    Performance Compensation

    Data from  FY 2023

    Cash Incentive Payout

    MetricWeightTargetActualPercentage of TargetPayout PercentageDollar Amount Component
    Company Organic Revenue Growth40%6.1% 10.2% 167% 200% Part of $5,500,000 Total
    Adjusted EBITDAC Margin40%33.1% 34.2% 158% 158% Part of $5,500,000 Total
    Personal Objectives20%N/AN/AN/A200% Part of $5,500,000 Total
    Overall100%$3,000,000 TargetN/AN/AN/A$5,500,000 Actual

    Evaluation Period: 2023 Conditions: Payouts are based on achieving specified performance thresholds (with no payout below threshold) and may reach up to 200% of the target based on the company’s performance. The cash incentive is adjusted based on actual performance relative to metrics.

    Equity Awards

    Performance Award (75% of Long-Term Awards)

    • Grant Date: February 20, 2023
    • Grant Date Fair Value: $2,191,863
    • Shares Granted:
      • Threshold: 0 shares
      • Target: 39,015 shares
      • Maximum: 78,030 shares
    • Vesting Schedule: Vesting is conditioned on continuous employment for five years

    Restricted Award (25% of Long-Term Awards)

    • Grant Date: February 20, 2023
    • Grant Date Fair Value: $750,000
    • Shares Granted: 13,005 shares
    • Vesting Schedule: Vesting is conditioned on continuous employment for five years

    Evaluation Period for Equity Awards: 2023 with a service-based vesting over a five-year period.