Markel Corp. reported that, Thomas S. Gayner, 53, president and chief investment officer, and Richard R. Whitt, III, 51, president and co-chief operating officer, will serve as co-chief executive officers of the company starting in the new year.
In addition, F. Michael Crowley, president and co-chief operating officer, will serve as the sole president of the company, also beginning in January.
Crowley, Gayner and Whitt will continue to report to Alan I. Kirshner, who will serve as the company’s executive chairman.
Kirshner, Markel’s current chairman of the board and CEO, said the appointments set the “stage for Markel’s future and builds upon and continues a long tradition of collegial and collaborative leadership, management and decision-making.”
In addition to serving as co-chief executive officers, Gayner will oversee the company’s investment portfolio and non-insurance operating companies, known as Markel Ventures, while Whitt will oversee the international insurance and reinsurance operations as well as its underwriting, finance, actuarial, claims, information technology, legal and administrative functions.
Crowley will continue to oversee the company’s global insurance, specialty and wholesale operations and its marketing, human resources and strategic management functions.
As executive chairman, Kirshner said he will focus on long-term strategic planning and development.
Richmond, Virginia-based Markel underwrites specialty insurance products.
Source: Markel Corp.