US property and casualty insurer RLI Corp. has announced its succession plan for current Chief Executive Officer Jonathan Michael.
Michael announced that he will retire as CEO, effective December 31, 2021, a position he has held since 2001.
He has served as Chairman of the Board since 2011 and will remain in that capacity after stepping down as CEO.
Craig Kliethermes, current RLI Insurance Company President & Chief Operating Officer, will succeed him his role as CEO.
“On behalf of our Board of Directors, we are pleased to announce our plan for Craig to become our next CEO, the third in our company’s 55-year history,” said RLI Corp. Chairman & CEO Jonathan E. Michael.
“Craig is a proven leader who has driven strong operating results through a relentless commitment to our customers and associates. I have great confidence in his ability to lead and inspire our organization to achieve continued success in the years to come.”
Michael added, “Having served RLI for 19 years as CEO and nearly four decades in an executive role, I believe the time is right for a leadership change.
“Craig and I will be working together over the next year to ensure a smooth transition. I’m proud of our talented team and all we have achieved to create tremendous value for all RLI stakeholders.”
Kliethermes previously served as Senior Vice President, Risk Services and joined RLI in 2006. He brings over 35 years’ experience to the role and previously served at Lockton Companies, GE Insurance/Employers Reinsurance and John Deere Insurance Company.
“This announcement is the successful culmination of our Board’s multiyear succession plan to select the best future leader for the company. Craig has worked closely with the Board over the past several years, and we look forward to what he will bring to the company as CEO,” said John Baily, Lead Director of RLI’s Board of Directors.
“On behalf of the entire Board, I want to thank Jon for his successful tenure as CEO. Under his leadership, the company has profitably grown into a sustainable enterprise that is well-positioned for the future.”
Commenting on his appointment, Kliethermes stated, “I am honored to be selected as the next CEO of RLI, and want to thank both Jon and the Board for the opportunity and confidence they have placed in me to lead this strong organization.
“I look forward to working with our associates to continue delivering exceptional value to our customers, distribution partners and shareholders.”