Glenn Spencer has resigned as president and CEO of Lockton Cos. Inc. and has been succeeded by Ron Lockton, the company’s vice chairman.
Spencer officially became president and CEO on May 1, when John Lumelleau retired after 12 years in the role. The company said only that the resignation was “for personal reasons, effective immediately.”
Spencer had been with Lockton since 2005 and has 30 years of experience in the insurance industry. He was being groomed for years to take over as CEO when Lumelleau retired, spending the previous seven years as COO and president of U.S. operations. That made his resignation all the more surprising.
Read more: Kansas City Business Journal