This means that approximately 30% of our colleagues will see no reduction. We have worked with local leaders around the world to determine the most equitable way to apply a temporary salary reduction to our broader colleague base and have developed a tailored approach based on a set of criteria, including the cost-of-living.īased on that analysis, we have set a floor in each country.
Our Named Executive Officers (NEOs), including me, Christa Davies, Eric Andersen, John Bruno and Tony Goland, as well as our Board of Directors, will reduce salaries by 50 percent. That’s why we are also asking colleagues across the firm to support us during this time with temporary compensation reductions. Paying a regular dividend is consistent with maintaining an investment grade rating and fundamental to accessing the capital markets.Īs we assess the economic risks on the horizon, we do not believe that these actions alone are enough to provide the operational flexibility we may require. It’s important to note that we intend to preserve our dividend. We have also paused our stock buyback plan and set aside those funds. They are mobilizing a monumental firm-wide effort to reduce all discretionary expense not related to client service. We have already substantially curtailed spending on contractors and third-party vendors and are now asking our Aon Business Services team to take additional steps. His passion for financial inclusion led to his service on the World Economic Forum’s Global Financial Inclusion Steering Committee and ACCION’s Center for Financial Inclusion Advisory Board.In an open letter to Aon employees (27 th April 2020) Greg Case, Aon CEO requested that staff support the firms decision to implement “temporary compensation reductions”īelow is an excerpt from his open letter:Ĭonsistent with our principles, our first actions have been focused on opportunities that do not have a direct, personal impact on individual colleagues. Tony created and led McKinsey’s global Financial Inclusion practice, 2005 to 2015. At various times he was a senior leader of the global banking, insurance, payments, and organization practices, and he served for a number of years on the Firm’s global personnel committees.
Prior to joining Aon, Tony was a Senior Partner at McKinsey & Company, where he spent 30 years serving clients across 4 continents on a range of strategic, organizational, and performance improvement efforts.
Tony helped lead Aon’s global Inclusion & Diversity efforts while continuing to further strengthen global HR processes including colleague recruiting, development, wellbeing, and total rewards. From 2015 to 2018 Tony served as Aon’s Global Chief Human Resources Officer, where he designed, launched, and scaled their “Leading Aon United” program to capture the collective potential of ~50,000 colleagues. Tony brings an amazing wealth of expertise as well as a deep passion for our mission of transforming lives.īefore stepping into his role as Burnalong Senior Advisor, Tony served as Global Chief Innovation Officer at Aon, creating and leading its New Ventures Group (NVG). Tony is the former Aon, plc Global Chief Innovation Officer and Chief Human Resources Officer, and former McKinsey Senior Partner. Tony Goland has joined Burnalong as a Senior Advisor.
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