Arthur J. Gallagher & Co. (NYSE: AJG) announced the death of David Johnson, who served as Lead Independent Director on the company's board of directors.

Following Johnson's death, the board voted to reduce its size from nine to eight members. Ralph Nicoletti was elected to serve as Lead Independent Director, effective immediately. Nicoletti was first elected to the board in 2016 and has served as Chair of the Audit Committee since 2019.

J. Patrick Gallagher, Jr., Chairman and CEO, said in a statement: "For more than two decades, Dave helped guide Gallagher with wisdom, integrity, and a steadfast commitment to our values. As Lead Independent Director, he brought sound judgment and perspective to our Board, and his many years of dedicated service will leave a lasting mark on Gallagher."

Arthur J. Gallagher & Co. is headquartered in Rolling Meadows, Illinois, and provides insurance brokerage, risk management, and consulting services in approximately 130 countries.