John Jones
Chief Marketing and Communications Officer at MMC
Executive
About John Jones
MMC’s latest proxy and 8‑K filings do not identify an executive officer or director named “John Jones,” and he is not listed among Named Executive Officers (NEOs) or beneficial owners; therefore, no John Jones-specific background, education, age, tenure, or role disclosures are available in SEC filings . For firm-level context, MMC delivered 2024 revenue of $24.5B (+8% YoY GAAP), adjusted EPS +10%, and 2024 TSR of 13.7% with five-year annualized TSR of 15.5% .
Past Roles
Not disclosed in MMC filings for an executive named “John Jones” .
External Roles
Not disclosed in MMC filings for an executive named “John Jones” .
Fixed Compensation
- MMC’s 2024 NEOs (not including any “John Jones”) had high variable pay weightings: ~93% for CEO and ~83% for other NEOs at target, reflecting a pay-for-performance design .
- Compensation elements: base salary, annual bonus tied to net operating income and strategic objectives, and annual LTI (50% stock options, 50% PSUs) .
- Severance policy (for senior executives): 1x base salary + 3-year average bonus + pro‑rata current year bonus; with double‑trigger change‑in‑control vesting and no excise tax gross‑ups .
Performance Compensation
- PSUs: three-year annualized adjusted EPS growth with relative TSR modifier vs S&P 500; payout capped at 200% of target. 2022 grant paid at 200% based on 14.6% EPS CAGR with TSR at 65th percentile (modifier 1.15x, capped) .
- 2024 bonus framework weightings and measures:
| Senior Executive | Financial Weighting | Financial Measure | Strategic Weighting | Strategic Measure |
|---|---|---|---|---|
| Company CEO | 80% | Company net operating income | 20% | Individual objectives |
| Other Corporate Senior Executives | 70% | Company net operating income | 30% | Individual objectives |
| Business CEOs | 80% | Business net operating income | 20% | Individual objectives |
- 2024 actual financial performance vs target (illustrative context for NEOs): Company NOI 113.0% of prior year vs 108.0% target (financial factor 123.2%), Marsh 114.4% vs 108.0% (129.8%), Mercer 110.8% vs 108.0% (113.1%), Guy Carpenter 111.4% vs 108.0% (116.0%) .
Equity Ownership & Alignment
- Stock ownership guidelines: CEO 6x base salary; other senior executives 3x; executives must hold shares until meeting guideline; PSUs excluded; options excluded from calculation .
- Prohibitions: hedging and pledging of company securities by directors/senior executives; pre‑clearance and insider trading policies in place .
- Holding requirements: shares from units/options must be held until guideline met; sale restrictions unless post‑sale ownership remains at/above the required multiple .
Employment Terms
- Severance under Senior Executive Severance Pay Plan: lump sum equal to 1x base salary + 1x average bonus (last three years) + pro‑rata current-year bonus; 12 months medical/dental at active rates and outplacement; subject to release and covenants .
- Change-in-control: double-trigger vesting/payment (CIC plus qualifying termination); no CIC excise tax gross‑ups; awards may be assumed/replaced; if not, vesting accelerates at CIC .
- Restrictive covenants: non‑compete and non‑solicit apply; periods generally 24 months for CEO, 12 months for other named executives .
MMC Performance Context (firm-level)
| Metric | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|---|---|
| TSR ($100 initial investment) | 107 | 161 | 156 | 181 | 206 |
| Net Income ($USD Millions) | 2,016.0 | 3,143.0 | 3,050.0 | 3,756.0 | 4,060.0 |
| Adjusted EPS Growth (%) | 7.5% | 20.5% | 14.6% | 18.8% | 10.6% |
Say‑on‑Pay & Shareholder Feedback
| Year | Say‑on‑Pay Approval (%) |
|---|---|
| 2024 | 93% |
- MMC engages institutions holding ~58% of voting power; feedback discussed with Board/committees; investors viewed program favorably, consistent with 93% approval .
Compensation Peer Group (benchmarking)
- Insurance brokers: Aon, Willis Towers Watson, Arthur J. Gallagher .
- Carriers: AIG, Chubb, Travelers .
- Consulting/business services: ADP, Accenture, S&P Global .
Governance, Clawbacks, and Plan Provisions
- Clawbacks: SEC/NYSE compliant financial restatement clawback plus behavioral “detrimental conduct” clawback at Committee discretion .
- Equity plan provisions: one‑year minimum vesting for ≥95% of awards; no repricing without shareholder approval; no liberal share counting; no dividends on unvested awards; double‑trigger CIC vesting; independent administration .
Risk Indicators & Red Flags (observed in filings)
- No hedging/pledging by directors/senior executives permitted (alignment positive) .
- No CIC excise tax gross‑ups (shareholder-friendly) .
- Related person transactions disclosed: Mercer services to NiSource ($339k in 2024); CFO’s family member compensation at Oliver Wyman ($158k)—reviewed under Related Person policy .
Investment Implications
- There is no SEC disclosure identifying a Marsh McLennan executive named “John Jones,” so investor-grade, person-specific compensation, equity, and contract analytics cannot be produced at this time; monitor future 8‑K Item 5.02 filings and the next DEF 14A for any appointment/NEO changes .
- MMC’s compensation architecture reduces pledging/hedging risk and aligns long‑term PSU payouts to adjusted EPS and relative TSR; vesting calendars (options in 4 tranches; PSUs at three years) can create periodic selling windows among NEOs subject to 10b5‑1 and pre‑clearance, but person‑specific signals require confirmed identity and Form 4 data .