John Lumelleau, the president and chief executive officer (CEO) of Lockton, has unveiled plans to retire next year.
Glenn Spencer, currently Lockton’s global chief operating officer and president of US operations, will succeed Lumelleau as president and chief executive officer (CEO), effective May 1, 2017.
Lumelleau will work closely with Spencer on the leadership transition until his retirement at the end of Lockton’s fiscal year, April 30, 2017. He will continue to serve Lockton as a special advisor after his retirement.
Lumelleau joined Lockton in 1997, and has served as president and CEO since 2002. According to Lockton, during these two decades, it has globalised and grown twelve-fold from a $97 million operation with seven offices in the US to a $1.3 billion global company with 6,000 associates in 78 offices.
Lockton launched a Bermuda office in 2007, focused on property, energy, financial lines, casualty and healthcare.
“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 Lockton, executive chairman of Lockton. “During his 11 years with Lockton, Glenn has demonstrated the leadership skills to build on our long record of delivering results for clients.”
He added: “John has been a tremendous business partner and friend through remarkable change and transformation. 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.”
John Lumelleau, Lockton, Bermuda, North America, Glenn Spencer