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DAYTONA BEACH, Fla.--J. Powell Brown has been elected president of brokerage Brown & Brown Inc., succeeding Jim W. Henderson, who has been promoted to the new position of vice chairman.
The moves are the first steps in the brokerage's executive succession plan, which anticipates Mr. Brown also assuming the office of chief executive officer in July 2009. That's the date his father, J. Hyatt Brown, has indicated he will retire as CEO but remain chairman of the Daytona Beach, Fla.-based intermediary.
J. Powell Brown, 39, previously was a regional executive vp responsible for certain wholesale brokerages and public entity operations. He will continue to report to Mr. Henderson.
Besides his new duties, Mr. Henderson, 60, will retain his position as chief operating officer. He will continue to report to J. Hyatt Brown.
Brown & Brown is the world's seventh-largest brokerage based on revenues, according to Business Insurance's annual broker rankings (BI, July 17, 2006).