Ryan Specialty Holdings Announces Leadership Succession Plan

By Tamara Parker • Tuesday, July 02 02:11 • Permanent Link

Ryan Specialty Holdings, Inc. has announced a leadership succession plan to be implemented on October 1, 2024. Founder, Chairman, and CEO Patrick G. Ryan will transition to the role of Executive Chairman, while Timothy W. Turner, President of Ryan Specialty and Chairman and CEO of RT Specialty, will become the Chief Executive Officer.

Jeremiah R. Bickham, Chief Financial Officer, will become President of Ryan Specialty, and Janice M. Hamilton, Chief Accounting Officer, will become Chief Financial Officer.

Turner, who joined Ryan Specialty in 2010, has over 37 years of leadership experience within the insurance industry. Under his leadership, RT Specialty has become one of the top wholesale distributors of specialty insurance solutions in the country.

Bickham, who has been with the company since 2011, has extensive financial and operational expertise and has been involved in the firm’s merger and acquisition activity. Hamilton, who has more than 20 years of experience in both the U.S. and international insurance markets, previously served as CFO for AmTrust International.

Ryan Specialty, founded in 2010, is a service provider of specialty products and solutions for insurance brokers, agents, and carriers. It provides distribution, underwriting, product development, administration, and risk management services by acting as a wholesale broker and a managing underwriter with delegated authority from insurance carriers.

The leadership transition is aimed at building on the company's outstanding service to clients and trading partners and generating additional value for shareholders.

The company's board of directors has unanimously approved the leadership succession plan. The announcement reflects the board's considered and comprehensive approach to succession planning, and they have deep confidence in the new leaders and the company's path forward. As a result of these announcements, the company's shares have moved -2.0% on the market, and are now trading at a price of $56.76. For the full picture, make sure to review Ryan Specialty's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.