Kansas City, Mo.-based insurance broker Lockton Cos. has named Glenn A. Spencer president and CEO, effective May 1, 2017.
Spencer will succeed John L. Lumelleau, who will continue as president and CEO, working closely with Spencer on the leadership transition until his retirement at the end of Lockton’s fiscal year, April 30, 2017.
Spencer currently serves as Lockton’s global chief operating officer and president of its U.S. operations. Since 2005, he has held several operations leadership roles with Lockton and previously worked as an executive with Johnson & Higgins, Marsh, and Palmer & Cay. He began his insurance career at the Travelers in 1987.
“We are very pleased to have an accomplished internal candidate we trust to lead our Associates and to carry on our entrepreneurial culture,” said David M. Lockton, Lockton’s executive chairman. “During his 11 years with Lockton, Glenn has demonstrated the leadership skills to build on our long record of delivering results for clients.”
Lockton said the company has experienced dramatic growth and success during Lumelleau’s tenure. He joined Lockton in 1997, and served as president and CEO since 2002. During these two decades, Lockton has globalized and grown 12-fold from a $97 million operation with just seven offices in the U.S. to a $1.3 billion global company with 6,000 employees in 78 offices, the company reported.
“John has been a tremendous business partner and friend through remarkable change and transformation,” said Lockton. “He has guided our unprecedented growth with his unique combination of leadership, vision, and energy. With a steady hand and keen understanding of our industry, John led our global expansion, strengthened relationships with clients and carriers, and bolstered our culture. He helped create an environment that attracts talented Associates, fosters their development, and allows them to flourish by focusing on what is most important: the success of our clients.”
Lumelleau will continue to serve Lockton Inc. as a special advisor after his retirement, the company added.
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
