Executive Chairman Ron Lockton is returning to the role of Chief Executive Officer of Lockton, the independent insurance broker has recently announced.
“The Lockton Board of Directors, Mr. Lockton and former CEO Peter Clune have mutually agreed that now is the moment for Peter to step down as CEO. Mr. Lockton was previously CEO from 2017-2020 and served as Executive Chairman during Mr. Clune’s CEO tenure,” a Lockton spokesperson said.
Lockton, who is taking over his new role with immediate effect, commented: “In the nearly four years that I’ve served as Executive Chairman of Lockton, I have remained active in the company’s management and decision making, and I am honored and excited to be given the opportunity to serve once again as CEO.
“Jack Lockton founded this company with an unwavering belief that by focusing on our clients, fostering a great company culture, and remaining private, we would build and mobilize an exceptional company. I carry that belief today, and I couldn’t be more excited for what the future holds for us.”
Former CEO Clune had been with Lockton since 2006, when he joined as Chief Operating Officer – St. Louis Series, following ten years at Zurich. He was appointed Executive Vice President in 2010 and in 2017 he became US President and Chief Operating Officer.
In 2019 he was promoted to the role of Chief Executive Officer, succeeding Ron Lockton, who was appointed as Chairman in the same year.
Ron Lockton, son of Jack Lockton and the nephew of David Lockton, who stepped down as Chairman in 2019, has been with the firm for over three decades and has held several key leadership positions, including as CEO.
“I want to thank Peter for his many contributions to Lockton during his 17 years at the company. As CEO, Peter rose to the occasion and oversaw a sustained period of growth for the company. We wish him well,” Lockton added.
