Anthony Anderson
Director at MMC
Board
About Anthony K. Anderson
Independent director since 2016 (age 69), Audit Committee Chair and member of the Business Responsibility Committee. Former Vice Chair and Midwest Area Managing Partner at Ernst & Young LLP (35 years) and designated as an “audit committee financial expert” by MMC’s Board, reflecting deep finance and audit expertise and CPA credentials .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Ernst & Young LLP | Vice Chair; Midwest Area Managing Partner | 2006–Apr 2012 (joined EY 1977) | Led audit practice; extensive governance and insurance/audit experience |
| Federal Reserve Bank of Chicago | Director | 2008–2010 | Board service; financial oversight exposure |
| American/California/Illinois CPA Institutes | Member | Not disclosed | Professional standards; CPA credentials |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| AAR Corp. | Director | Current | Other public company board |
| Exelon Corporation | Director | Current | Other public company board |
| Avery Dennison Corporation | Director | Past 5 years (former) | Prior public board service |
Board Governance
- Committee assignments: Audit Committee (Chair) and Business Responsibility Committee .
- Independence: MMC states all directors other than the CEO are independent under NYSE and company standards .
- Attendance and engagement: Board held 11 meetings in 2024 with ~96% average attendance; all directors attended ≥75% and the 2024 annual meeting. Audit Committee met 11 times, with regular executive sessions and private sessions with management, internal audit, and Deloitte .
- Audit leadership: Board determined Anderson (and two others) satisfy SEC “audit committee financial expert” qualifications .
- Business Responsibility oversight: Committee covers sustainability, culture, responsible practices, and coordinates with other committees .
Fixed Compensation
| Element | Amount | Period | Notes |
|---|---|---|---|
| Basic Annual Retainer (Independent Directors) | $140,000 | Board comp year (Jun 1–May 31) | Paid quarterly; can elect cash or stock; deferral permitted |
| Supplemental Retainer – Audit Chair | $30,000 | Board comp year | Applies to Audit Committee Chair |
| Meeting fees | $0 | Ongoing | No fees for non-chair committee membership |
| 2024 Fees Earned (cash/stock) | $165,516 | Calendar 2024 | Actual director cash/stock retainer paid during 2024 |
Performance Compensation
| Grant | Shares | Grant Date Fair Value | Grant Date | Notes |
|---|---|---|---|---|
| Annual Director Stock Grant | 971 | $200,000 | Jun 1, 2024 | Anderson elected to defer receipt of all shares |
| Director Stock Ownership Guideline | 5× basic annual retainer | — | Ongoing | Directors may not sell until threshold attained; no hedging or pledging allowed |
No performance metrics apply to director compensation; annual equity grants are not contingent on financial targets and can be deferred under the Directors’ Stock Compensation Plan .
Other Directorships & Interlocks
- Current public boards: AAR Corp., Exelon Corporation .
- Potential interlocks/related-party exposure: MMC disclosed related-person transactions involving Lloyd Yates (NiSource) and a family member of CFO; no transactions reported involving Anderson in 2024 .
Expertise & Qualifications
- Key skills: Leadership, Financial, Industry, Business Responsibility, Risk Management .
- Audit committee financial expert designation; financially literate per NYSE .
- Insurance/insurance brokerage audit experience and governance across multiple boards .
Equity Ownership
| Category | Shares | Date/Period | Notes |
|---|---|---|---|
| Beneficial ownership – sole voting/investment power | 1,000 | Feb 28, 2025 | Reported in proxy ownership table |
| Beneficial ownership – other than sole | 14,438 | Feb 28, 2025 | Includes deferred stock units and plan holdings |
| Total beneficial ownership | 15,438 | Feb 28, 2025 | <1% of outstanding shares (none >1% among directors) |
| Deferred shares held (aggregate) | 14,387 | Dec 31, 2024 | Deferred receipt of director stock grants; dividend equivalents reinvested |
Insider Trades and Reporting
| Item | Status | Period | Notes |
|---|---|---|---|
| Section 16(a) reporting compliance | Compliant (no delinquency noted for Anderson) | 2024 | Company reported one late filing for Oscar Fanjul; none for Anderson |
Governance Assessment
- Strengths: Independent Audit Chair with SEC “financial expert” status; high committee workload and structured executive/private sessions; robust director ownership guidelines and prohibitions on hedging/pledging; strong say-on-pay support (93% in 2024) indicating investor alignment .
- Compensation alignment: Mix is primarily fixed cash retainer plus annual stock grant; Anderson elected to defer shares, signaling long-term alignment; no meeting fees that could bias incentives .
- Conflicts/related-party risk: No related-party transactions disclosed involving Anderson in 2024; MMC enforces a formal related-person transaction review policy through the Directors & Governance Committee .
- Attendance/engagement: Board and committee cadence suggests active oversight (11 Board meetings; 11 Audit), with executive sessions fostering independent oversight .
- Red flags: None disclosed specific to Anderson (no pledging, hedging, or related-party dealings reported; no Section 16 issues) .