Aon and Willis Towers Watson Establish 'One Firm' Vision, Name Executive Committee for Proposed Combination
DUBLIN, Jan. 27, 2021 /PRNewswire/ -- Aon plc (NYSE: AON) and Willis Towers Watson plc (NASDAQ: WLTW) today announced the future leadership team for the firm that will be effective upon the completion of the proposed combination of Aon and Willis Towers Watson. Guided by a one firm mindset, the new leadership team will come together following the close of the combination to deliver new sources of value to clients and create new opportunities for colleagues.
"Aon and Willis Towers Watson have a unique opportunity to create a combined firm that will make an even greater difference in the global economy and provide unparalleled experiences for our clients and colleagues," said Greg Case, Aon CEO. "This talented team draws on the best of both from each organization and will be critical to delivering on the high aspirations we have for the new Aon."
"As we learned more about each other's organizations, it became clear that a fundamental driver of our success will be leaders who fully embrace a one firm mindset," said John Haley, CEO, Willis Towers Watson. "The willingness to put the needs of clients and the entire organization ahead of their part of the business and any individual priorities will be the key to unlocking the full potential of the planned combination for the benefit of all our stakeholders."
Following completion of the proposed combination, the following leaders will join Case, as CEO, and Christa Davies, as Chief Financial Officer, in forming the new Aon Executive Committee:
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The new Aon Executive Committee will lead teams working together across regions, solution lines and functions to accelerate innovation and bring the best of the combined firm to clients.
"All of the leaders we are announcing today are highly accomplished and true advocates of the one firm mindset that will be at the core of the new Aon," said Case. "We are confident that our combined firm, with this leadership team, will help us address the most pressing areas of client need and provide compelling new opportunities for our colleagues."
About Aon
Aon plc (NYSE: AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance.
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About Willis Towers Watson
Willis Towers Watson is a leading global advisory, broking and solutions company that designs and delivers solutions that manage risk, optimize benefits, cultivate talent and expand the power of capital to protect and strengthen institutions and individuals. Willis Towers Watson has 45,000 employees serving clients in more than 140 countries and markets.
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Forward-Looking Statements
This communication contains certain statements that are forward-looking, as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are prospective in nature and are not based on historical facts, but rather on current expectations of management about future events. Forward-looking statements can often, but not always, be identified by the use of words such as "plans," "expects," "is subject to," "budget," "scheduled," "estimates," "forecasts," "potential," "continue," "intends," "anticipates," "believes," or variations of such words, and statements that certain actions, events or results "may," "could," "should," "would," "might" or "will" be taken, occur or be achieved.
Although management of Aon and Willis Towers Watson ("WTW") believe that the expectations reflected in these forward-looking statements are reasonable, they can give no assurance that these expectations will prove to be correct. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Such factors include, but are not limited to, the possibility that the proposed combination will not be consummated in the expected timeframe, or at all, failure to obtain necessary regulatory approvals, to comply with the requirements of such approvals or to satisfy any of the other conditions to the proposed combination, adverse effects on the market price of Aon and/or WTW securities and operating results for any reason, including, without limitation, because of a failure to consummate the proposed combination, the failure to realize the expected benefits of the proposed combination (including anticipated revenue and growth synergies) in the expected timeframe, or at all, the failure to effectively integrate the companies following consummation of the proposed combination, changes in global, political, economic, business, competitive, market and regulatory forces, future exchange and interest rates, changes in tax laws, regulations, rates and policies, future business acquisitions or disposals, or any announcement relating to the proposed consummation or failure to consummate the proposed combination on the market price of Aon and/or WTW securities, significant transaction and integration costs or difficulties in connection with the proposed combination and/or unknown or inestimable liabilities, litigation associated with the proposed combination, the potential impact of the consummation of the proposed combination on relationships, including with suppliers, customers, employees and regulators, and general economic, business and political conditions (including any epidemic, pandemic or disease outbreak) that affect the combined company following the consummation of the proposed combination.
The factors identified above are not exhaustive. Aon, WTW and their respective subsidiaries operate in a dynamic business environment in which new risks may emerge frequently. Other unknown or unpredictable factors could also cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements. Forward-looking statements should therefore be construed in the light of such factors. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made.
Further information concerning Aon, WTW and their respective businesses, including economic, competitive, governmental, regulatory, technological and other factors that could materially affect their respective results of operations and financial condition, is contained in each company's filings with the Securities and Exchange Commission (the "SEC"). See (i) Aon's Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and additional documents filed by Aon with the SEC, and (ii) WTW's Annual Report on Form 10-K for the year ended December 31, 2019, Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020, and additional documents filed by WTW with the SEC, for a further discussion of these and other risks and uncertainties applicable to the companies' respective businesses. The contents of these filings are not incorporated by reference in, nor do they form part of, this communication.
Any forward-looking statements in this communication are based upon information available as of the date of this communication which, while believed to be true when made, may ultimately prove to be incorrect. Other than in accordance with legal or regulatory obligations, Aon and WTW are under no obligation, and each expressly disclaims any intention or obligation, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to Aon, WTW and/or any person acting on their behalf are expressly qualified in their entirety by the foregoing paragraphs, and the information contained on any websites referenced in this communication is not incorporated by reference in this communication.
The directors of Aon accept responsibility for the information contained in this Announcement relating to Aon. To the best of the knowledge and belief of the directors of Aon (who have taken all reasonable care to ensure that such is the case), the information contained in this Announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
The directors of WTW accept responsibility for the information contained in this Announcement relating to WTW. To the best of the knowledge and belief of the directors of WTW (who have taken all reasonable care to ensure such is the case), the information contained in this Announcement for which they respectively accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information.
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