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

Company: AFFILIATED MANAGERS GROUP, INC.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 25
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 director assumes a leadership role, such as becoming the chair of a committee. Leadership Structure: The Company follows best practices with respect to the Board’s leadership structure, reflecting collective feedback received from stockholders, as well as commentary from proxy advisory firms, over a multi-year period. While the Company does not have a fixed policy with respect to the independence of the Board Chair, the By-Laws provide that if at any time the Board Chair is not affirmatively determined to be independent, the Board must appoint a Lead Independent Director and provide for specific enumerated duties of the Lead Independent Director in that circumstance. In circumstances where the Board Chair is independent (as is the case currently), the Lead Independent Director role is not required. This approach provides for effective checks and balances to ensure the exercise of independent judgment by the Board and the ability of the independent directors to work effectively in the board setting. The Board regularly reviews the leadership structure, and believes that a non-executive, independent Board Chair is an appropriate and effective leadership structure for the Company at this time. The Board Chair’s principal responsibilities include: coordinating the agenda for and chairing Board meetings; serving as a key source of communication between the independent directors and the Chief Executive Officer; ensuring the flow of appropriate information to and among independent directors; leading the annual performance evaluation of the Chief Executive Officer; and coordinating the agenda for and leading executive sessions and meetings of the independent directors. Having previously served in the role from August 2020 through January 2024, Dwight

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D. Churchill was appointed Board Chair in January 2025, succeeding Reuben Jeffery III following his retirement from the Board in January 2025. Mr. Churchill’s knowledge and participation in the development of the Company’s corporate strategy during his service on the Board, together with his extensive management experience outside of the Company, and capacity as a leader, including having previously served as Board Chair, position him as an effective and strong independent Board Chair. In connection with Mr. Churchill’s appointment as Board Chair, the Board determined that circumstances warranted his also continuing in his role as Chair of the Nominating and Governance Committee, particularly given his background and institutional knowledge. Further adding to the refreshment of leadership roles on committees in 2024, in addition to Mr. Churchill’s appointment as Chair of the Nominating and Governance Committee, Ms. Palandjian became Chair of the Compensation Committee, and Mr. Starr became Chair of the Audit Committee.

| Responsibilities of the Non-Executive, Independent Board Chair                                                                                |     |