Tony Markel to retire as Vice Chairman of Markel Group in May 2025 and Jon Michael joins Board of Directors
Markel Group (NYSE: MKL) announced significant leadership changes, with Vice Chairman Tony Markel set to retire from the Board in May 2025 after 61 years of service. Tony Markel, who joined the company in 1964 and became President and COO in 1992, was instrumental in taking the company public in 1986. Under his leadership alongside Alan Kirshner and Steve Markel, the company grew from $60 million in total assets to approximately $25 billion by 2016.
Additionally, Jon Michael has been appointed to the Board of Directors effective March 15, 2025. Michael brings over 40 years of specialty insurance experience, notably serving as Chairman of RLI Corp from 2011 to 2024 and as its President and CEO from 2001 to 2021, during which RLI's market capitalization increased tenfold. Following his retirement, Tony Markel will assume the honorary position of Chairman Emeritus of the Board.
Markel Group (NYSE: MKL) ha annunciato significativi cambiamenti nella leadership, con il Vice Presidente Tony Markel che si ritirerà dal Consiglio di Amministrazione a maggio 2025 dopo 61 anni di servizio. Tony Markel, che è entrato nell'azienda nel 1964 e è diventato Presidente e COO nel 1992, è stato fondamentale per portare l'azienda in borsa nel 1986. Sotto la sua guida, insieme ad Alan Kirshner e Steve Markel, l'azienda è cresciuta da 60 milioni di dollari in attivi totali a circa 25 miliardi entro il 2016.
Inoltre, Jon Michael è stato nominato nel Consiglio di Amministrazione con effetto dal 15 marzo 2025. Michael porta con sé oltre 40 anni di esperienza nel settore delle assicurazioni specialistiche, avendo ricoperto il ruolo di Presidente di RLI Corp dal 2011 al 2024 e come Presidente e CEO dal 2001 al 2021, periodo durante il quale la capitalizzazione di mercato di RLI è aumentata di dieci volte. Dopo il suo ritiro, Tony Markel assumerà la posizione onoraria di Presidente Emerito del Consiglio.
Markel Group (NYSE: MKL) anunció cambios significativos en el liderazgo, con el Vicepresidente Tony Markel programado para retirarse de la Junta en mayo de 2025 después de 61 años de servicio. Tony Markel, quien se unió a la empresa en 1964 y se convirtió en Presidente y COO en 1992, fue fundamental para llevar a la empresa a la bolsa en 1986. Bajo su liderazgo junto a Alan Kirshner y Steve Markel, la empresa creció de 60 millones de dólares en activos totales a aproximadamente 25 mil millones para 2016.
Además, Jon Michael ha sido nombrado para la Junta de Directores con efecto a partir del 15 de marzo de 2025. Michael aporta más de 40 años de experiencia en seguros especializados, habiendo sido Presidente de RLI Corp desde 2011 hasta 2024 y su Presidente y CEO desde 2001 hasta 2021, durante el cual la capitalización de mercado de RLI aumentó diez veces. Tras su retiro, Tony Markel asumirá el cargo honorario de Presidente Emérito de la Junta.
Markel Group (NYSE: MKL)는 중대한 경영진 변화를 발표했으며, 부회장인 Tony Markel이 61년의 서비스 후 2025년 5월 이사회에서 은퇴할 예정입니다. Tony Markel은 1964년에 회사에 합류하여 1992년에 사장 겸 COO가 되었으며, 1986년에 회사를 상장하는 데 중요한 역할을 했습니다. Alan Kirshner 및 Steve Markel과 함께 그의 리더십 아래, 회사는 2016년까지 총 자산이 6천만 달러에서 약 250억 달러로 성장했습니다.
또한, Jon Michael이 2025년 3월 15일부터 이사회에 임명되었습니다. Michael은 2011년부터 2024년까지 RLI Corp의 회장을 역임하고 2001년부터 2021년까지 사장 겸 CEO로 재직하며 40년 이상의 전문 보험 경험을 가지고 있습니다. 이 기간 동안 RLI의 시장 자본은 10배 증가했습니다. 은퇴 후, Tony Markel은 이사회의 명예 회장직을 맡게 됩니다.
Markel Group (NYSE: MKL) a annoncé des changements significatifs dans sa direction, avec le vice-président Tony Markel qui prévoit de prendre sa retraite du conseil d'administration en mai 2025 après 61 ans de service. Tony Markel, qui a rejoint l'entreprise en 1964 et est devenu président et COO en 1992, a joué un rôle clé dans l'introduction en bourse de l'entreprise en 1986. Sous sa direction, aux côtés d'Alan Kirshner et de Steve Markel, l'entreprise est passée de 60 millions de dollars d'actifs totaux à environ 25 milliards d'ici 2016.
De plus, Jon Michael a été nommé au conseil d'administration à compter du 15 mars 2025. Michael apporte plus de 40 ans d'expérience dans le domaine de l'assurance spécialisée, ayant été président de RLI Corp de 2011 à 2024 et président-directeur général de 2001 à 2021, période durant laquelle la capitalisation boursière de RLI a été multipliée par dix. Après sa retraite, Tony Markel assumera la position honorifique de président émérite du conseil.
Markel Group (NYSE: MKL) gab bedeutende Veränderungen in der Unternehmensführung bekannt, wobei der Vizepräsident Tony Markel nach 61 Jahren im Dienst im Mai 2025 aus dem Vorstand ausscheiden wird. Tony Markel trat 1964 in das Unternehmen ein und wurde 1992 Präsident und COO. Er spielte eine entscheidende Rolle bei der Börseneinführung des Unternehmens im Jahr 1986. Unter seiner Führung, zusammen mit Alan Kirshner und Steve Markel, wuchs das Unternehmen von 60 Millionen Dollar an Gesamtvermögen bis 2016 auf etwa 25 Milliarden Dollar.
Darüber hinaus wurde Jon Michael mit Wirkung zum 15. März 2025 in den Vorstand berufen. Michael bringt über 40 Jahre Erfahrung im Bereich Spezialversicherungen mit, darunter die Rolle des Vorsitzenden von RLI Corp von 2011 bis 2024 sowie die Position des Präsidenten und CEO von 2001 bis 2021, während der die Marktkapitalisierung von RLI um das Zehnfache stieg. Nach seinem Rücktritt wird Tony Markel die ehrenvolle Position des Ehrenvorsitzenden des Vorstands übernehmen.
- Appointment of highly experienced Jon Michael to Board with 40+ years of specialty insurance expertise
- New director's proven track record of 10x market cap growth at RLI Corp as CEO
- Smooth leadership transition with advance notice of retirement
- Loss of long-term veteran Tony Markel with 61 years of company experience
- Departure of key figure instrumental in company's public listing and historical growth
Markel Group also announced the appointment of Jon Michael to its Board of Directors, effective March 15, 2025. Mr. Michael is a proven specialty insurance leader with more than 40 years of experience in the industry.
Tony Markel to retire from the Board of Directors
Mr. Markel joined the company in 1964 after graduating from the University of
"Tony is larger than life and it would be hard to overstate his impact on this company," said Steve Markel, Chairman of the Board. "He was not just a highly effective operator and leader, he was the heartbeat of Markel with an unmatched ability to motivate and connect with people. I'm grateful to have had the chance to work alongside Tony for so many years."
"In spite of the fact that my meteoric rise to the top of Markel was a blatant example of nepotism, I am extremely proud to have been a part of the growth and success of this organization over the last 61 years," said Tony Markel. "I am equally proud of the Markel Style, a unique and distinct culture that has, and continues, to attract and guide some of the finest people in the insurance industry and the various industries served by our other Markel Group companies. It truly has been an honor and privilege to have worked with you and number you as friends."
Jon Michael appointed to Board
Mr. Michael is a seasoned industry executive with a strong track record in the specialty insurance industry. He was the Chairman of RLI Corp., a publicly traded specialty insurance company, from 2011 to 2024 and he was President and CEO of RLI from 2001 to 2021—during which time RLI's market capitalization increased by a factor of ten. Mr. Michael held various positions at RLI after joining in 1982, including President and Chief Operating Officer, Executive Vice President, and Chief Financial Officer. Prior to joining RLI, he worked at the accounting firm Coopers & Lybrand.
Mr. Michael was appointed interim President of Bradley University in June 2024 and has served on its Board of Trustees since 2016, most recently as Board Chair. He currently serves as the lead independent director of SS&C Technologies Holdings, Inc.
"As I end my official tenure at Markel, I am extremely enthused about the addition of Jon Michael to the Board," said Tony Markel. "Jon brings experienced leadership in the specialty insurance sector that I think will prove to be invaluable in the next chapter of the Markel story."
"Jon is a well-respected and proven specialty insurance industry leader who shares the values in the Markel Style," said Steve Markel. "His deep financial and operational expertise will be very useful through the remainder of our Board-led business review, and his insights and long-term orientation will serve us well as we continue to grow Markel Group in the years ahead."
"Markel Group is a company that feels like home," said Mr. Michael. "Great people, strong values, and so much opportunity for continued growth. I look forward to working with the Board and management team to define the next chapter of Markel Group's success."
About Markel Group
Markel Group Inc. (NYSE: MKL) is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group's durability and adaptability. It's a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
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SOURCE Markel Group
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