Markel Corporation has announced that Alan I. Kirshner, the company's executive chair and board chair, has informed the company that he will not stand for re-election at the company's 2020 annual meeting of shareholders scheduled to be held May 11, 2020. Mr. Kirshner will retire as a director and officer of the company at the end of the meeting.
Markel also announced that the board has selected current board member and vice chair Steven A. Markel to succeed Mr. Kirshner as the next board chair.
"I'm grateful to have had the opportunity to serve as chairman of Markel these last 33 years, working alongside terrific leaders and great employees, all of whom come to work each day determined to build one of the world's great companies," Mr. Kirshner said. "This coming year I'll celebrate both my 85th birthday and 60th anniversary at Markel, and believe these milestones mark the perfect time for me to retire from the board and pass on the chairman role to another proven leader, my good friend and long-time colleague, Steve Markel."
Mr. Kirshner joined Markel in 1960 and moved through a number of leadership roles with increasing responsibility. He joined the board in 1978 and became board chair and chief executive officer in 1986, the same year Markel became a public company. He served as chief executive officer through 2015 and moved into his executive chair role in 2016.
The board has named Mr. Kirshner to the honorary position of "chairman emeritus" of the board effective when he retires next May.
"Alan has led Markel with tremendous passion, honesty, and fairness," Mr. Markel said. "He has always been a visionary, challenging leadership and the organization to embrace change, to innovate, create, and strive for a better way. And, as the lead author of The Markel Style, the company's values statement, his purpose and principles will live on within Markel forever."
Mr. Markel has been with Markel since 1975 and has been a member of its senior leadership team since the company went public in 1986, with a focus on finance and investments. He has served as vice chair since 1992 and has been a director since 1978.
Learn more: www.markel.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].