Lockton Inc.’s president and CEO has resigned, and a scion of the broker’s founding family has replaced him.
Glenn Spencer left the privately held independent insurance broker for personal reasons, Lockton said, offering no further details, other than thanking him for his contributions to the company and wishing him well
Ron Lockton, a nephew of Chairman David Lockton, has added both the president and CEO slots to his responsibilities after serving as vice chairman for the past two years as part of Lockton’s succession plan.
In his new role, Ron Lockton will work closely with David Lockton, U.S. President Peter Clune, International CEO Neil Nimmo and other global Loctkton executives.
Ron Lockton previously led the growth of Lockton’s Kansas City property/casualty operation from 2006 through 2014. Beyond his vice chairman duties, he has also worked with clients in industry sectors including foodservice, construction, professional services and manufacturing, according to the company.
David Lockton said that Ron Lockton will help Lockton grow in the long-term.
“I completely trust his instincts, admire his integrity and know he will be outstanding in this role,” David Lockton said in prepared remarks, adding that he sees Ron Lockton as “continuing to strengthen our leadership team for the long-term as we focus on our future.”