J. Patrick Gallagher Jr. has been named chairman of Itasca, Ill.-based insurance brokerage firm Arthur J. Gallagher & Co.
Mr. Gallagher will remain president and chief executive officer of the firm. He succeeds his uncle Robert E. Gallagher, who served as chairman for 11 years until his death in August.
Gallagher also announced it will pay a quarterly cash dividend of 30 cents a share on the company's common stock on Jan. 15, 2007 to shareholders of record as of Dec. 29.
The board also elected William L. Bax to serve on the company's board of directors. Mr. Bax retired in 2003 as Chicago Area managing partner of PricewaterhouseCoopers.
He is a director of Andrew Corporation and of Northern Funds/Northern Institutional Funds. He is a director and trustee of Children's Memorial Hospital, DePaul University and Chicago's Big Shoulders Fund.
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