Peter Clune, Lockton Cos. LLC’s U.S. president and chief operating officer, will become the brokerage’s chief executive officer effective May 1, 2020.
Ron Lockton, 53, who is now CEO, will move up to become the Kansas City, Missouri-based brokerage’s chairman.
Current Chairman David Lockton, 66, will become lead director, where he will concentrate on promoting Lockton’s continued growth at a strategic level, according to a statement issued by the brokerage Wednesday.
Ron Lockton is the son of founder Jack Lockton, who died in 2004, and is David Lockton’s nephew.
Ron Lockton, who had served as Lockton’s vice chairman for two years, became president and CEO in 2017 after Glenn Spencer, who briefly served in that position, resigned for personal reasons.
Mr. Clune, 48, became U.S. president and chief operating officer in May 2017. He was previously an operations executive working with Lockton offices across the U.S. on recruiting, business development, and client service, according to the statement. Mr. Clune joined Lockton in 2006 as chief operating officer of the broker’s operations in St. Louis.
The leadership change was announced to Lockton employees at its annual Global Growth Forum Wednesday.
Lockton ranked No. 8 in Business Insurance’s latest ranking of the world’s largest commercial insurance brokers.
It is the only privately held broker among Business Insurance’s top 10 commercial brokerages not backed by a private equity firm or a hybrid of private equity and private ownership.
Its leaders have continued to be adamant there are no plans to change its ownership structure.
Lockton has 7,500 associates in more than 125 countries, the company said in its statement.
In recent months, it has become embroiled in poaching litigation with various competitors, as both an alleged perpetrator and victim.
Lockton Cos. L.L.C. has named Kansas City, Missouri-based Peter Clune as its next U.S. president and chief operating officer, effective May 1, 2017.