Reshuffle at Lockton as new CEO named

Peter Clune has been promoted to CEO of independent insurance brokerage Lockton, effective May 1, 2020. Clune has been with Lockton for 13 years, most recently serving as US president and COO.

Clune replaces Ron Lockton, who is being named chairman of the firm. Ron Lockton is the son of founder Jack Lockton, who died in 2004, and the nephew of current chairman David Lockton. He has worked at Lockton for 29 years as a producer and held several key leadership positions.

David Lockton will step down as chairman, a role he has held for the last 18 years; he will maintain his presence at Lockton, concentrating on promoting Lockton's continued aggressive growth at a strategic level.

"Peter is one of very few non-Lockton family members to be CEO in the firm's 53-year history," said David Lockton. "During his tenure as US president, he has made several key decisions that have been critical to ensuring Lockton's double-digit growth. He's a collaborator, a consensus builder and the right leader for Lockton."

Ron Lockton, incoming chairman, said: "Under David's leadership, Lockton has grown to a nearly $2 billion-dollar global company with more than 7,500 associates in offices around the world. I am grateful for his leadership and appreciate all of the guidance he has given Peter and me as we prepare for our new roles. I am excited about our amazing momentum and bright future."

Lockton's leadership announcement was released on Lockton's new global website, featuring its new global tag line, Uncommonly Independent. Lockton is celebrating its position as the world's largest privately held broker by declaring it will maintain its independence and family ownership. The globalization of Lockton's brand has been a top priority for Ron Lockton during his term as CEO. Lockton said it plans a global rollout of its new global brand strategy over the next 12 to 18 months.

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