LR Group CEO transition plan announced
The Board of Lloyd’s Register Group (LR) announced that, after a 14-year career with LR and over five years as Group Chief Executive Officer, Alastair Marsh has decided to step down from his role and retire from the Lloyd’s Register Group Board on 31 December 2020, with a view to taking on some non-executive and advisory roles.
After a comprehensive selection process reflecting LR’s long-term succession planning, the Board is also pleased to announce that Nick Brown, 45, currently Marine & Offshore Director, will succeed Marsh as Group CEO and join the LR Group Board on 1 January 2021. Brown will continue in his current role until this date.
Commenting on the announcement, LR Chairman, Thomas Thune Andersen said: “Alastair is an exceptional business leader who has transformed the company during his tenure, delivering on a five-year modernisation and cultural change strategy. Following the significant investment in new systems and processes, LR is a far more agile and customer-focused organisation, with a strong growth platform in innovative digital services, whilst also achieving greater operational excellence. The company has also diversified its portfolio through acquisition, expanding into new industries such as food safety and cyber-security. His foresight on modernisation has ensured that LR is well positioned for ongoing growth in increasingly challenging and dynamic markets, whilst fulfilling our purpose, working together for a safer world. I would like to thank him personally, and on behalf of the Board, for his contribution to Lloyd’s Register and in particular his strong leadership of the company through the recent global pandemic.”
On Brown’s appointment, Thune Andersen added: “The Board is delighted to appoint Nick as Group CEO at this natural inflexion point in our business cycle and strategic roadmap. As the company writes its next chapter, this is a logical time for change and Nick has all the right qualities to lead us to further success. Having worked for Lloyd’s Register in a variety of senior leadership roles around the world, Nick has a deep understanding and experience of our business and the sectors and markets in which we operate, as well as a strong track record of delivering consistent high-quality services and business growth. He is a customer-focused leader with a passion for purpose who epitomises our values. The Board warmly welcomes Nick to the role and wishes him every success.”
Alastair Marsh commented: “It has been an absolute privilege to lead Lloyd’s Register over the last five years and I would like to thank the Group Board and Trustees of the Foundation Board for their support during the business’s strategic transformation. I have had the pleasure to work with so many committed and talented colleagues and I am enormously proud of everything we have achieved together, supporting our clients while fulfilling our purpose to make the world a safer place. I have worked closely with Nick for many years and think he’s a natural choice to lead the company. He knows the company inside out having risen through the ranks, yet his views are progressive and forward-looking. I am very confident that LR will continue to prosper under his leadership, building upon our strengths and embracing new opportunities.”
Nick Brown said: “It has been a great pleasure to work with Alastair and it is an honour to succeed him as chief executive. I am truly excited about the role and our future as I’ve had the opportunity to experience first-hand the difference that we make to our clients and their businesses. My new role comes at a time of change – the pandemic, global economic recovery and climate change – and I am confident that Lloyd’s Register has both the agility and resilience to survive and thrive. We are well equipped for the future building upon Alastair’s legacy of company transformation. I would like to extend my gratitude to Alastair for his support and leadership of Lloyd’s Register and look forward to working closely with him over the next few months.”
A successor to Brown will be announced in due course.
Source: Lloyd’s Register