Company: MGRE
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001004434-25-000021
Chunk: 23

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 23
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Long-tenured independent directors in leadership roles                                                                                         |     | •Average director nominee age of 61                                                  |

Succession Planning: The Nominating and Governance Committee has primary responsibility for Chief Executive Officer and other key executive succession planning. Succession planning and executive development are fundamental components of the Board of Directors’ governance responsibilities, and are regularly discussed by the Committee with management present as well as in executive sessions. The Board has demonstrated the depth and effectiveness of its succession planning through periods of organizational evolution. Annually, the independent directors review management succession planning by incorporating feedback from Mr. Horgen and engaging in a full discussion during executive sessions of the Board without management present. The independent directors and Mr. Horgen have continued to focus on developing and expanding the senior management team, to maintain a breadth and depth of talent that ensures that AMG is well-positioned to continue to refine and execute its strategy, including as reflected by the 2024 appointments of a new Chief Operating Officer, Chief Financial Officer, and General Counsel. Board Size : The Nominating and Governance Committee assesses the size and composition of the Board of Directors each year. Consistent with our Corporate Governance Guidelines, the Nominating and Governance Committee believes that the current

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size of the Board of Directors, eight members, is appropriate given the size and complexity of the Company and the markets in which we operate. The Nominating and Governance Committee will continue to assess the Board’s needs and other relevant circumstances, and may change the size or composition of the Board of Directors in the future if it believes that doing so would be in the best interests of the Company and its stockholders. Executive Sessions of Independent Directors: AMG’s independent directors regularly meet in scheduled executive sessions without management present. In accordance with the Corporate Governance Guidelines and the By-laws, Mr. Churchill, the Board Chair, is responsible for calling and chairing the executive sessions. Each committee of the Board also meets without management present, in sessions led by the Chair of the relevant committee. Board and Committee Self-Assessments and Individual Director Assessments: Regular evaluations of the committees and the full Board of Directors are critical in ensuring the effective functioning of AMG’s Board of Directors, including in assessing candidates for directorship. To this end, the Chair of the Nominating and Governance Committee, supported by the Committee, oversees the annual self-assessment of the Board of Directors and of each committee of the Board of Directors. Directors assess performance and consider various structural and procedural matters, including the