Markel appoints president and co-CEOs

Financial holding company Markel has announced that Thomas Gayner, president and chief investment officer, and Richard Whitt, III, president and co-chief operating officer, will serve as co-chief executive officers (co-CEOs) of the company from 1 January, 2016.

The firm has also stated that Michael Crowley, president and co-chief operating officer, will serve as the sole president of the company as of the same date.

Crowley, Gayner and Whitt will continue to report to Alan Kirshner, who will serve as the Markel’s executive chairman and CEO.

Kirshner said: “Markel is a company built to last. The unanimous decision taken by the board of directors today to appoint Tom and Richie as Co-CEOs of the company effective January 1 sets the stage for Markel’s future and builds upon and continues a long tradition of collegial and collaborative leadership, management and decision-making.

Though the CEO position will be assumed by both Gayner and Whitt, Crowley will continue to be an integral part of the executive management team.

Kirshner added: “We could not be happier with the character, talent, experience, and vision Mike, Tom and Richie possess and contribute to the company. We are equally fortunate that the management teams across our organization are filled with exceptional leaders that are executing upon the goals and aspirations of Markel on a daily basis.

In addition to serving as co-CEO                s of the company, Gayner will oversee Markel’s investment portfolio and non-insurance operating companies, known as Markel Ventures. Whitt will oversee the company’s international insurance and reinsurance operations as well as its underwriting, finance, actuarial, claims, information technology, legal and administrative functions.

Crowley will continue to oversee Markel’s global insurance, specialty and wholesale operations and its marketing, human resources and strategic management functions.

As executive chairman, Kirshner will continue to focus on long-term strategic planning and development for the company.