WLTW - Willis Towers Watson plans to reshape board after talks with activist investor - WSJ

Willis Towers Watson (NASDAQ:WLTW) plans to replace four directors, including Chairman Victor Ganzi, with four new members after talks with activist investor Elliott Management, the Wall Street Journal reports, citing people familiar with the matter. That's almost half of its nine-member board, which is comprised of eight nonexecutive directors and its CEO. The shakeup comes months after its planned merger with Aon (NYSE:AON) fell apart due to antitrust objections by the U.S. Justice Department. WSJ didn't know the names of which directors will be leaving and who will replace them. The incoming members, though have operational and turnaround experience in the insurance and insurance brokerage business, the people told the WSJ. In September, the newspaper reported that Elliott and Starboard Value had taken stakes in Willis Towers Watson (WLTW). Since the collapse of the Aon (AON) deal, the company agreed to sell its Willis Re unit to Arthur J. Gallagher

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Willis Towers Watson plans to reshape board after talks with activist investor - WSJ