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Steve Markel to retire, Tom Gayner elected chairman at Markel
Markel said CEO Tom Gayner was elected chairman effective immediately, and two executive vice presidents were promoted to co-presidents.
Markel Group Inc. announced that Chairman Steve Markel will retire after more than 50 years with the company and will not seek re-election to the board at the 2027 annual shareholder meeting. Markel is 77 and has served as chairman since 2020, following earlier roles including vice chairman, executive vice president and treasurer.
The insurer elected CEO Tom Gayner as chairman effective immediately. Michael O'Reilly, a Markel board member and lead independent director, will remain in that role.
Markel also promoted Simon Wilson and Andrew Crowley, previously executive vice presidents, to co-presidents of Markel Group, effective immediately. Wilson will serve as CEO of Markel Insurance, while Crowley will serve as CEO of Markel Ventures.
In addition, the company said its board formed a Leadership Council made up of O'Reilly, Gayner, Wilson, and Crowley, designed to support regular coordination between independent board leadership and senior management on strategy, performance, and capital allocation, according to Markel.