Julie L. Turpin
BROWN & BROWNAbout Julie L. Turpin
Julie L. Turpin is Executive Vice President and Chief People Officer of Brown & Brown, Inc. She became Chief People Officer and a Senior Vice President in March 2020 and was appointed an Executive Vice President in May 2021; as of February 11, 2025, she is 54 years old . During 2024, Brown & Brown delivered strong company-level performance supporting incentive alignment: total revenue of $4.805B, organic revenue growth of 10.4%, and Adjusted EBITDAC margin of 35.3%; 2024 total shareholder return was +44% . As CPO, she routinely leads Board-level discussions on leadership development and succession planning, reinforcing talent retention levers that underpin execution across segments .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Brown & Brown Absence Service Group (formerly The Advocator Group) | Chief Executive Officer | Jan 2014–Mar 2020 | Led scaling of absence services; contributed to broader HR/talent infrastructure that later supported enterprise CPO role |
| Brown & Brown Absence Service Group | Chief Operating Officer | Aug 2013–Jan 2014 | Drove operations continuity and process improvements |
| Brown & Brown Absence Service Group | Vice President of Operations | Aug 2012–Aug 2013 | Built operating foundations and talent processes |
| GCG Risk Management Consultants LLC | Co-founder, Chief Operating Officer | Feb 2009–Mar 2012 | Founded and operated brokerage; deepened insurance operations expertise |
| Marsh U.S.A., Inc.; Forrest Company Realty, Inc.; NRG Energy, Inc. | Operational leadership positions | Prior to 2009 | Broadened leadership across insurance, real estate, and energy—relevant to enterprise-scale HR transformation |
External Roles
None disclosed in company filings for public company board or committee roles .
Fixed Compensation
- Julie Turpin is not a Named Executive Officer (NEO) in the 2025 proxy; therefore, her base salary and bonus outcomes are not specifically disclosed .
- Company-wide executive pay structure comprises base salary; annual cash incentives; and long-term equity awards, set by the Compensation Committee with FW Cook advising periodic market assessments to ensure competitiveness and pay-for-performance alignment .
Performance Compensation
Company executive cash incentive design (applies to certain executive officers, including NEOs; framework guides enterprise pay-for-performance):
| Metric | Weighting | Target (2024) | Actual (2024) | Payout (% of component) | Vesting/Payout Mechanics |
|---|---|---|---|---|---|
| Company Organic Revenue Growth | 40% | 6.9% | 10.4% | 200% | Annual cash incentive, paid after fiscal year-end; subject to Committee adjustments for unusual/infrequent items |
| Adjusted EBITDAC Margin | 40% | 34.4% | 35.3% | 176% | Annual cash incentive; Committee excluded certain non-cash stock comp above budget and gains/losses on disposal from margin calc |
| Personal Objectives | 20% | Approved objectives per executive | Assessed by Committee | 0–200% typical range; actual varies by executive | Annual cash incentive; objectives evaluated holistically by Committee (CEO assessed by Committee; others via CEO recommendation) |
Long-term equity structure for executive officers:
- 75% Performance Stock Awards/Units (PSAs/PSUs) tied to 3-year Organic Revenue growth and diluted EPS CAGR; payouts 0–200%; subject to additional 5-year cliff time-vesting from grant date .
- 25% Restricted Stock Awards/Units (RSAs/RSUs) with 5-year cliff time-vesting; voting and dividend rights accrue per plan terms .
Equity Ownership & Alignment
| Policy/Item | Requirement/Status |
|---|---|
| Stock Ownership Guidelines | CEO: 6x base salary; Section 16 officers: 3x; other Senior Leadership Team: 1x. Must be achieved within 3 years of hire/promotion and maintained until separation . |
| Hedging/Pledging | Strict anti-hedging for directors and executive officers; pledging prohibited for directors and for executive officers with stock held under ownership requirements . |
| Clawback | Mandatory recovery of erroneously awarded incentive compensation for Section 16 officers upon material restatement, covering the prior 3 completed fiscal years . |
| Beneficial Ownership | All current directors and executive officers as a group: 44,694,156 shares, 15.59% of outstanding as of Mar 3, 2025—demonstrating broad insider alignment; individual holdings for Turpin not separately disclosed . |
| Dividend Rights on Unvested Awards | Dividends (or equivalents) accrue on time-based awards and on performance-based awards after performance conditions are certified; disposition restricted until time-vesting completes . |
| Double-trigger Vesting (Change-in-Control) | Under 2010/2019 SIP, 100% vesting upon involuntary/constructive termination within 12 months post-change-in-control; for performance awards without certification, greater of 100% or performance-based outcome to date . |
Employment Terms
- Leadership & succession: As Chief People Officer, Turpin regularly leads executive sessions with the Board on leadership development and succession—central to retention and execution risk management .
- Company approach to executive employment agreements features robust post-termination restrictions (e.g., 12-month non-solicit/team move, customer and M&A prospect restrictions) and clear governance of incentives upon termination, as reflected in the 2025 Service Agreement Julie L. Turpin executed for the COO in her officer capacity—indicative of typical contractual posture used to protect talent and customer relationships .
Investment Implications
- Pay-for-performance alignment is strong: annual incentives weighted 80% to financial outcomes (organic revenue, margin), with objective-based 20% kicker; 2024 overachievement yielded elevated payouts, signaling tight linkage to operating performance .
- Equity awards emphasize retention and long-term value creation: 5-year cliff vesting and 3-year performance windows reduce near-term selling pressure and promote multi-year execution, mitigating turnover risk for enterprise leaders like the CPO .
- Governance controls limit misalignment risks: anti-hedging/pledging, stock ownership requirements, and clawbacks enhance alignment and downside protection; absence of Turpin-specific pledges disclosed reduces pledging red-flag risk for her role .
- Culture and talent signals are positive for retention and execution: multi-year Great Place to Work certifications and Military Friendly Employer awards, alongside benefit expansion initiatives, suggest durable teammate engagement under Turpin’s leadership—supportive of organic growth and margin resilience .
Note: Julie L. Turpin’s individual compensation figures (base salary, target/actual bonus, specific equity grants) and personal share ownership are not disclosed in the 2025 proxy; analysis relies on enterprise compensation frameworks and governance policies that apply to executive officers broadly .