Willis Towers to Revamp Board Following Activist Pressure

Willis Towers Watson PLC is replacing almost half of its board including the chairman, the insurance broker’s latest effort to remake itself following the collapse of a merger with a major rival.

Following talks with activist investor Elliott Management Corp., Willis Towers is replacing four of its nonexecutive directors, including Chairman Victor Ganzi, with four new members. The insurance brokerage giant’s board is composed of eight nonexecutive directors and its chief executive.