Randall & Quilter Investment Holdings Ltd. (R&Q) has revealed that Group Chief Executive Officer (CEO) Ken Randall is to step down from his position, and is to be replaced by Alan Quilter and Dr. Roger Sellek as Joint CEOs.
Randall, who jointly founded the company with Quilter in 1991, will continue to serve as Executive Chairman of the Group.
Quilter is currently the Group Chief Financial Officer (CFO) and alongside Dr. Sellek, who joins as a Director of the Company from A.M. Best, has been appointed by the Board to the newly-created role of Joint CEOs.
The appointment of Dr. Sellek takes the number of Executive Directors on the Board to four, with an additional four Non-Executive Directors.
At A.M. Best, Dr. Sellek was most recently CEO with responsibility for the firm’s international activities excluding the Americas. He brings more than 25 years of industry experience to the role, and prior to A.M. Best, Dr. Sellek held numerous senior positions within the Corporation of Lloyd’s.
Randall commented: “Succession planning has been high on the Board’s agenda and, with the continued development of R&Q’s business, it’s time to add further strength to our senior leadership team and for me to step back from day-to-day operations.
“Alan founded the business with me nearly 30 years ago and has played a key part in the growth of the business. He will retain oversight of the Group’s financial and investment management activities. Roger has been known to the Group for many years and I am delighted to welcome him back to R&Q after an absence of more than 25 years. Subject to confirmation of necessary work and residence permits, Roger will initially be based in Bermuda, where the Group is domiciled.”
Dr. Sellek added: “Ken Randall persuaded me to enter the insurance industry from academia many years ago and I’m delighted to have the opportunity now to be able to work with Ken, Alan and Mark. R&Q has evolved to become a major force in its chosen sectors of the insurance industry and I am very much relishing the opportunity to contribute to its continuing growth as part of the leadership team.”