Alleghany Corporation Completes Chief Executive Officer Transition
Alleghany Corporation (NYSE: Y) has confirmed Joseph P. Brandon's appointment as Chief Executive Officer and his addition to the Board of Directors, effective December 31, 2021. This transition follows the company's succession plan, with Brandon previously serving as President since April 2021 and Executive Vice President since March 2012. He succeeds Weston M. Hicks, who retired after two decades of service. Alleghany Corporation operates in property and casualty reinsurance and manages various subsidiaries, including Transatlantic Holdings and RSUI Group.
- Joseph P. Brandon appointed as CEO and Board Member effective December 31, 2021.
- Brandon's extensive background in insurance and reinsurance strengthens leadership.
- Transition aligns with a previously announced succession plan, ensuring continuity.
- Departure of Weston M. Hicks, a long-standing CEO, may lead to uncertainty during the transition.
NEW YORK, Jan. 3, 2022 /PRNewswire/ -- Alleghany Corporation (NYSE: Y) today confirmed that President Joseph P. Brandon assumed the additional role of Chief Executive Officer and was appointed to the Board of Directors effective December 31, 2021, consistent with the company's previously announced succession plan. Mr. Brandon succeeds Weston M. Hicks.
Mr. Brandon joined Alleghany as Executive Vice President in March 2012 and has served as President since April 2021. Prior to his roles with Alleghany, Mr. Brandon served as Chairman and Chief Executive Officer of General Re Corporation, a wholly-owned subsidiary of Berkshire Hathaway Inc., from 2001 to 2008.
Mr. Hicks retired as Chief Executive Officer and as a Director of Alleghany on December 31, 2021. The Board of Directors is grateful to Mr. Hicks for his many contributions to Alleghany over the past two decades.
About Alleghany Corporation
Alleghany Corporation owns and supports operating subsidiaries and manages investments, anchored by a core position in property and casualty reinsurance and insurance. Alleghany's property and casualty subsidiaries include: Transatlantic Holdings, Inc., a leading global reinsurer; RSUI Group, Inc., which underwrites wholesale specialty insurance coverages; and CapSpecialty, Inc., an underwriter of specialty casualty and surety insurance coverages. Alleghany's subsidiary Alleghany Capital Corporation owns and supports a diverse portfolio of eight non-financial businesses.
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SOURCE Alleghany Corporation
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