Ryan Specialty Holdings, Inc. (NYSE: RYAN) saw its stock move -0.9% today, closing at $42.48 per share. This comes in the wake of an announcement from the company regarding changes to its board of directors.
Effective December 31, 2023, William J. Devers retired from the company's board of directors. Patrick G. Ryan, Chairman of the Board of Directors, expressed gratitude for Devers' contributions, saying, "Bill Devers has been on the board of Ryan Specialty since 2013 and has been a trusted advisor, colleague and friend over the years. We thank Bill for his time and advice that has been so instrumental in guiding Ryan Specialty these past 11 years."
Concurrently, Pat Ryan, Jr. has been appointed to Ryan Specialty's board of directors, effective January 1, 2024. Ryan, Jr. is a technology entrepreneur and investor, known for founding high-growth software as a service (SaaS) companies and serving on the board of Penske Corporation for 25 years. Patrick G. Ryan, Chairman of the Board of Directors, welcomed Ryan, Jr. to the board, stating, "Pat will bring a new dimension to our board with his deep knowledge of technical excellence in business. He has a proven track record of success with high-growth companies, and we welcome his strategic and knowledgeable insights."
Commenting on his appointment to the board, Pat Ryan, Jr. stated, "It is an honor to join the board of Ryan Specialty. As an industry leader, the firm continues to evolve and innovate based on the needs of their clients and the insurance market. I look forward to assisting in the guidance of Ryan Specialty's continued long-term growth."
The company's full 8-K submission is available here.
