Markel CFO, in post since March, leaving company

Markel Group Inc.’s chief financial officer Teri Gendron, who began her position March 20, will leave the company as of Dec. 31 and be replaced by the CFO of its insurance business, Brian Costanzo, the insurer said.

The Richmond, Virginia-based company said in its 8-K U.S. Securities and Exchange Commission filing that her departure “is not the result of any disagreement with the Company with respect to any matter relating to the financial controls, financial statements, or any other operations, policies or practices of the Company.”

Markel said in a press release that it “made several changes earlier this year to further define the nature and structure of the holding company,” and Mr. Constanzo will build on Ms. Gendron’s work.

It did not respond to a request for more information.

Ms. Gendron, whose appointment to the CFO position was announced by the company on Feb. 7, was most recently CFO of the Jefferies Financial Group Inc., a New York-based investment bank.

At Markel, she succeeded Jeremy Noble, who became president of its insurance operations earlier this year.

Mr. Costanzo has been with Markel for 14 years, and has held several leadership positions, the company said.

It said as part of its transition, Meade Grandis, who is now managing director of accounting policy and reporting, will be named Markel Group’s chief accounting officer and controller. She has been with the company 13 years.

Markel said in November that Robert Cox, president and chief operating officer, global insurance operations for the Markel Group Inc., will leave the company on Dec. 31.