John Lumelleau, the chief executive officer at Lockton Inc. since 2002, will retire from the the Kansas City insurance brokerage on April 30, 2017.
In the announcement Thursday, Lockton named Glenn Spencer, currently the firm’s global chief operating officer, as Lumelleau’s successor.
Spencer will work with Lumelleau during the leadership transition.
Spencer started working for Lockton, the world’s largest private independent insurance broker, in 2005.
“During his 11 years with Lockton, Glenn has demonstrated the leadership skills to build on our long record of delivering results for our client,” said David Lockton, the firm’s executive chairman, in a written statement.
Lumelleau joined Lockton in 1997. Since then, the broker has grown from a $97 million business to a $1.3 billion operation spread across 78 offices, according to the company. Lockton’s local headquarters are on the Country Club Plaza.
“John has been a tremendous business partner and friend through remarkable change and transformation,” Lockton said in a statement.
Lockton will retain Lumelleau as a special adviser after he retires next year.