On August 10, 2026, Brown & Brown announced that P. Barrett Brown, its Executive Vice President, former President of the Retail Segment, and a named executive officer in its latest proxy filing, resigned for good reason and stepped down from officer and director roles at the company and subsidiaries. However, he stays employed through July 31, 2027 to help transition his duties, files, and systems. Under the agreement, he keeps his $1,000,000 annual base salary during the transition, is eligible for a $1,300,000 bonus in two $650,000 installments, gets a $130,000 lump sum for related expenses, and will receive $2,500,000 in severance paid in 2027 and 2028, subject to conditions like staying employed and signing a release.
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