A spokesperson from Lockton conveyed, “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.”

Taking immediate effect, Lockton’s transition back to CEO signifies a pivotal moment for the company. Lockton, expressing his sentiments, stated, “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.”

Former CEO Clune, whose tenure with Lockton dates back to 2006 when he joined as Chief Operating Officer – St. Louis Series, made significant contributions to the company’s growth and development. His journey included appointments as Executive Vice President in 2010 and, eventually, US President and Chief Operating Officer in 2017. He was then promoted to the role of Chief Executive Officer in 2019, succeeding Ron Lockton, who transitioned to Chairman that same year.

Ron Lockton, the son of Jack Lockton and nephew of David Lockton, has an extensive history with the firm, spanning over three decades. His return to the CEO position marks a significant milestone in Lockton’s leadership landscape, underlining the company’s commitment to stability and continued excellence in the insurance brokerage industry.

“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 mobilise an exceptional company. I carry that belief today, and I couldn’t be more excited for what the future holds for us.”

“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.