Global re/insurer Markel Group Inc. has announced the transition of Mike Heaton to Executive Vice President and Chief Operating Officer (COO), effective immediately. He will continue to report to Tom Gayner, Chief Executive Officer and be based in the firm’s global headquarters in Glen Allen, Virginia.
Gayner commented on the appointment, “Mike has been by my side for close to two decades now.
“He is an incredible operator and thought partner who played a huge role in building the team, structure, and processes that made Markel Group into a great home for businesses. Operating with this level of autonomy, accountability, and love for our companies is not easy, but the system that Mike and the team created, and will continue to evolve, makes it possible.”
In this expanded role, his remit will include overseeing the “day-to-day operations of the holding company and continue developing the system that supports Markel Group’s family of companies,” stated the re/insurer.
Additionally, as Executive Vice President and COO, Heaton will focus on three core priorities: pursuing the best capital allocation opportunities, attracting and supporting top company leaders, and amplifying the cultural values in the Markel Style.
Most recently, he was Executive Vice President, where he led the transformation from Markel Corporation to Markel Group Inc. by establishing a more formal holding company identity, structure, and team.
From 2016 to 2022, Heaton served as President of Markel Ventures, and he was previously Chief Operating Officer of Markel Ventures.
The company stated that “Heaton has a substantial track record supporting the businesses in Markel Group.”
Heaton concluded, “There is always more work to be done, but I really do think that we can be the best home in the world for businesses.
“A place where people with shared values have the space and support that they need to win. To have the opportunity to help build something like this is the honor of a lifetime, and I’m going to give everything I can to make it happen.”
