Markel Group Chairman Steve Markel to Step Down; CEO Tom Gayner Named Successor

MT Newswires Live09-08 21:06

Markel Group (MKL) said Tuesday that Chairman Steve Markel will step down from his position and not seek reelection at the company's 2027 annual shareholder meeting.

Steve Markel informed the board of his decision on Sept. 3, according to the company, after more than 50 years of service with the company.

The company said that the board has named Chief Executive Tom Gayner as chairman in addition to his current role.

Markel promoted Executive Vice Presidents Simon Wilson and Andrew Crowley to co-presidents, effective immediately. Wilson will also serve as CEO of Markel Insurance, while Crowley will serve as CEO of Markel Ventures, the company said.

The company added that Michael O'Reilly will remain lead independent director.

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