Brown & Brown Chief Steps Down Temporarily for Health Reasons

January 30, 2012 at 11:16 AM

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J. Hyatt Brown, the current chairman and former chief executive officer (CEO) of Brown & Brown Inc., is serving as acting CEO of the company while J. Powell Brown, his son, takes a leave from the CEO post for health reasons.

Brown & Brown, Daytona Beach, Fla. (NYSE:BRO), reported on the move in a document filed with the U.S. Securities and Exchange Commission.

Powell Brown succeeded his father as CEO of Brown & Brown in 2009.

Cory Walker, chief financial officer at Brown & Brown, says the company "is very, very fortunate to have Hyatt Brown" to step into Powell Brown's place while he is on temporary leave.

The company will "continue without missing a step," Walker says.

Brown & Brown is not saying when it expects Powell Brown to return, and Walker declined to comment further on Brown's health.

Brown, 40, joined Brown & Brown as a sales producer in 1995. He was elected the president of the company in 2007.

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