Liberty Mutual Insurance has said that chairman and CEO David H. Long will retire at the end of 2022 and will be replaced by Timothy M. Sweeney.
Following his retirement, Long will serve as the company’s executive chairman on its board of directors. He has been at Liberty Mutual for 37 years, becoming president in 2010, CEO in 2011 and chairman in 2013.
Bill Van Faasen, lead director at the company, said: “David has shaped Liberty Mutual into a world-class P&C provider that is stronger than ever and will be there for its customers into the future. He’s driven immense growth for the organisation while prioritising the company’s identity and values. David believes in putting people first and leading with empathy and transparency, and the Board thanks him for his dedication to the company. We have tremendous confidence in Tim and know he will continue to lead Liberty Mutual forward.”
Sweeney becomes the 10th CEO in Liberty Mutual’s 110-year history and has been at the company for nearly 30 years. He was appointed president in 2021, overseeing the organisation’s three business units — Global Risk Solutions, Global Retail Markets (GRM) and Liberty Mutual Investments.
He said in a statement: “It is truly an honour to succeed David and lead this incredible company of 47,000 global employees — each of whom brings their full commitment to deliver for our customers every day. I’m grateful to David, the Board and the entire Liberty Mutual community for their confidence and support. I look forward to continue building on our great success as we begin this next chapter of the company’s future together.”
Sweeney was appointed as president of Liberty Mutual in June last year alongside three other key executive leadership appointments.
Long said: “Liberty Mutual has been a part of my life for nearly four decades. The company has experienced significant change, challenges and transformation over the years, and I’m fortunate to have been a part of it all. Tim is an outstanding leader who will continue to drive the organization forward, harnessing the strength of our global organization. I’m extremely grateful to our employees as they are what makes this an exceptional place to work by doing what’s right for our customers, partners, communities and each other.”