Mark M. Besca Joins Markel's Board of Directors

Rhea-AI Summary

Markel Corporation (NYSE: MKL) announced the appointment of Mark M. Besca to its board of directors on November 18, 2020. Besca, who recently retired from EY after 42 years, brings extensive skills in advising major corporations across various industries. He will serve on the board's Audit Committee. Previously, he held leadership roles at EY, focusing on long-term value and stakeholder capitalism. His expertise is expected to enhance the board's insights and contributions towards the company's goals, which aim for consistent profits and superior investment returns.

Positive

• Appointment of Mark M. Besca brings extensive industry expertise to the board.
• Besca's previous leadership roles enhance the board's insight into long-term value.

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• None.

RICHMOND, Va., Nov. 18, 2020 /PRNewswire/ -- Markel Corporation (NYSE: MKL) announced today the appointment of Mark M. Besca to its board of directors, effective November 18, 2020. Besca serves as a consultant to EY (formerly Ernst & Young, LLP) having retired from EY in June 2020 after a 42-year career with the multinational professional services firm.

"Mark brings a broad array of skills and expertise to our Board from his many years of advising major corporations across a number of industries," said Steve Markel, chairman of the board at Markel. "We're excited to have him joining our board and look forward to his insights and contributions."

Besca will be a member of the board's Audit Committee.

Besca served as the leader of EY's Long-Term Value and Stakeholder Capitalism initiative from 2018 until his retirement. From 2012 to 2018, he served as Managing Partner of EY's New York office. From 2009 to 2011, he served as Northeast Managing Partner of the Assurance and Advisory Business. In addition, from 1992 until his retirement, Besca served as lead and senior advisory audit partner of Fortune 500 companies in the Media and Entertainment, Consumer Products and Airline industries.

He has held several civic positions, including Chairman of the Pace University Board of Trustees and Fellow of the David Rockefeller – New York City Partnership.

About Markel Corporation
Markel Corporation is a diverse financial holding company serving a variety of niche markets. The Company's principal business markets and underwrites specialty insurance products. In each of the Company's businesses, it seeks to provide quality products and excellent customer service so that it can be a market leader. The financial goals of the Company are to earn consistent underwriting and operating profits and superior investment returns to build shareholder value. Visit Markel Corporation on the web at markel.com.

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SOURCE Markel Corporation

FAQ

Who is Mark M. Besca and what is his role at Markel Corporation?

Mark M. Besca is a newly appointed member of Markel Corporation's board of directors, effective November 18, 2020, and will also serve on the Audit Committee.

What experience does Mark M. Besca bring to Markel Corporation?

Besca has 42 years of experience at EY, including leadership in long-term value initiatives and serving Fortune 500 companies.

When was Mark M. Besca appointed to the board of Markel Corporation?

Mark M. Besca was appointed to the board of Markel Corporation on November 18, 2020.

What is the significance of Mark M. Besca joining Markel's board?

His appointment is expected to enhance the board's capabilities in strategic decision-making and governance.