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Glenn A. Spencer will succeed John L. Lumelleau as president and CEO of the Kansas City-based Lockton Cos. L.L.C. on May 1, 2017, Lockton announced Thursday.
Mr. Spencer currently serves as Lockton's global chief operating officer and president of U.S. operations. Before joining Lockton in 2005, he held executive positions at several other brokerages.
Mr. Lumelleau will continue as president and CEO — positions he has held since 2002 — until his retirement on April 30, 2017, said Lockton in the announcement. Lockton added that he will remain a special adviser to Lockton during his retirement.
“John has been a tremendous business partner and friend through remarkable change and transformation,” said David M. Lockton, executive chairman of Lockton Inc. in a statement. “He has guided our unprecedented growth with his unique combination of leadership, vision, and energy.”
“We are very pleased to have an accomplished internal candidate we trust to lead our associates and to carry on our entrepreneurial culture,” said Mr. Lockton of Mr. Spencer in the statement. “During his 11 years with Lockton, Glenn has demonstrated the leadership skills to build on our long record of delivering results for clients.”
The brokerage said in the statement that it had “experienced dramatic growth and success” during Mr. Lumelleau's tenure. It said that since Mr. Lumelleau joined Lockton in 1997, the company has become a global broker, growing from a $97 million operation with seven offices in the United States to a $1.3 billion global company with 6,000 associates in 78 offices.
Lockton Cos L.L.C. said on Wednesday that it would create two new business teams to align its Texas operations.