Markel Company introduced Wednesday that Richard R. Whitt III, co-chief government officer of Markel, plans to retire by March 31, 2023.
Upon Whitt’s retirement, Thomas S. Gayner, co-chief government officer of Markel, will grow to be chief government officer, and Jeremy A. Noble, senior vp and chief monetary officer, will assume duties for main Markel’s international insurance coverage platform.
As CEO, Gayner will grow to be answerable for holding firm technique and oversight of Markel’s three revenue producing engines of insurance coverage, investments and Markel Ventures. He additionally will proceed in his position because the chief funding officer of Markel.
The worldwide insurance coverage platform, which Noble will lead, consists of Markel’s insurance coverage, reinsurance, program companies and insurance coverage linked securities companies.
After stepping down, Whitt will stay with the corporate in a consulting position to make sure a seamless transition
“Richie and I’ve been working aspect by aspect for over 30 years to construct Markel into one of many world’s nice firms, and I be a part of with the remainder of the Markel household in thanking him for his partnership,” Gayner mentioned in a media assertion. “Over this time, we’ve grown from working with about 300 colleagues to over 20,000, and all through that point Richie has at all times risen to the event, main with integrity and willpower all through,” he mentioned, congratulating Whitt on a outstanding profession and thanking him for his contributions to Markel.
Steven A. Markel, chairman of the board additionally thanked Whitt. “All through his profession at Markel, Richie has represented Markel’s tradition and values, particularly honesty, equity, and the zealous pursuit of excellence, which has led to the transformation of the insurance coverage enterprise into a world chief. Now we have by no means been in a stronger place,” the chairman mentioned.
Whitt joined Markel in 1991, serving in lots of senior management roles earlier than changing into co-CEO in 2016. He served as president and chief working officer from 2010 to 2015. He additionally served as controller; vp, treasurer and controller; government vp and chief administrative officer of Markel’s worldwide operations; CFO; and co-COO.
Noble, who has greater than 20 years of expertise and has held a number of management roles at Markel, will retain the duties of principal monetary officer of the Firm till these duties are transitioned to his successor. A recruitment course of for this place is underway. Earlier than changing into Chief Monetary Officer in 2018, Noble held titles together with: Finance Director, Markel Worldwide; Managing Director, Inner Audit; and Assistant Controller.
Along with the information about Whitt, Gayner and Noble, Markel introduced a number of different management appointments. These are efficient instantly:
- Michael R. Heaton, president, Markel Ventures, will assume the newly created position of government vp of Markel, with managerial duty over holding firm features.
- Andrew G. Crowley, government vp, Markel Ventures, will succeed Heaton as president, Markel Ventures.
Supply: Markel Company
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