Lockton Names Spencer as Next President and CEO to Succeed John Lumelleau

Experienced insurance executive to step into role as Lumelleau retires in April 2017

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Jun 23, 2016, 09:00 ET

KANSAS CITY, Mo., June 23, 2016 /PRNewswire/ -- Lockton has named Glenn A. Spencer as its next President and Chief Executive Officer, effective May 1, 2017. Spencer will succeed John L. Lumelleau, who has led Lockton through dramatic growth and its transformation into a global company.

Lumelleau 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.

Lockton Names Spencer as Next President and CEO to Succeed John Lumelleau

Spencer currently serves as Lockton's Global Chief Operating Officer and President of US Operations. He has held several operations leadership roles with Lockton, the world's largest privately held, independent insurance broker, since 2005. Previously he worked as an executive with insurance brokers 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, Executive Chairman of Lockton, Inc. "During his 11 years with Lockton, Glenn has demonstrated the leadership skills to build on our long record of delivering results for clients."

Lockton has experienced dramatic growth and success during Lumelleau's tenure. He joined Lockton in 1997, and has served as President and CEO since 2002. During these two decades, Lockton has globalized and grown twelve-fold from a $97 million operation with just seven offices in the US to a $1.3 billion global company with 6,000 Associates in 78 offices.

"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.

ABOUT LOCKTON

More than 6,000 professionals at Lockton provide 48,000 clients around the world with risk management, insurance, employee benefits consulting, and retirement services that improve their businesses. From its founding in 1966 in Kansas City, Missouri, Lockton has attracted entrepreneurial professionals who have driven its growth to become the largest privately held, independent insurance broker in the world and 10th largest overall. For seven consecutive years, Business Insurance magazine has recognized Lockton as a "Best Place to Work in Insurance." To see the latest insights from Lockton's experts, check Lockton Market Update.

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