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The Hanover names Richard Lavey as CEO-elect as John Roche retires
Roche will step down on Dec. 31, with Lavey set to work closely with him on the transition after being appointed CEO-elect.
The Hanover Insurance Group announced that CEO John C. Roche plans to retire on Dec. 31 after a 40-year career in the insurance industry, with the company pointing to his long tenure at The Hanover specifically since joining in 2006 and leading as CEO since 2017.
The board has appointed Richard W. Lavey, the company’s chief operating officer and president of Hanover Agency Markets, as CEO-elect. The plan calls for Lavey to work closely with Roche to support what The Hanover describes as a seamless transition.
The company said that during Roche’s leadership, it delivered record operating earnings, strong stock price appreciation, and reinforced its position as a property and casualty insurer focused on the independent agency channel.
Roche said in a statement that the company is in a strong financial position and that he has confidence in Lavey’s ability to guide the business forward following their long working relationship together.