W. R. Berkley Corporation's founder and its current chairman and chief executive officer, William R. Berkley, will become executive chairman on October 31, 2015. At that time, W. Robert Berkley, Jr., will become CEO, continuing the transition plan implemented by the board of directors when he was appointed president and chief operating officer in 2009.
The company said that, as executive chairman, William R. Berkley will continue to be fully engaged in the company's activities, primarily focused on investments and strategy, as W. Robert Berkley, Jr., expands his portfolio of responsibilities beyond the insurance and reinsurance operations to include many holding company activities.
William Berkley commented, “Several years ago, our board of directors implemented a long term succession plan designed to create a seamless transition for employees, customers, distribution partners, and our investors. Rob and I will continue to work together for many years to come, maintaining the forward momentum of our operations and our commitment to delivering long term value creation for our shareholders.”
Robert Berkley said, “It is a great honor and privilege to be designated as the company's incoming CEO. I would like to thank the board for their confidence, and my colleagues for their ongoing support. Most importantly, however, I am indebted to my father for his years of guidance and mentorship. Not only have I had the privilege of learning from the best, but I look forward to continuing that close working relationship for many years to come. The culture my father has built over the past 48 years at W. R. Berkley Corporation has created remarkable value, and I am deeply committed to the long term success of our company.”
Learn more: www.wrberkley.com.
Victoria Spears
Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].