RICHMOND, Va., Sept. 8, 2026 /PRNewswire/ -- Markel Group Inc. (NYSE: MKL) today announced that Steve Markel, Chairman of the Board of Directors, informed the Board on Thursday, September 3, 2026 that after more than 50 years of distinguished service to Markel, he will retire as Chairman and will not seek re-election to the Board at Markel's 2027 Annual Meeting of Shareholders. Effective today, the Board has appointed Chief Executive Officer Tom Gayner to the additional role of Chairman, succeeding Mr. Markel. Michael O'Reilly, Markel Board member and former Vice Chairman and Chief Financial Officer at Chubb, as well as former Chairman of Alterra Capital Holdings Limited, will remain Lead Independent Director.
"On behalf of the Board, we thank Steve for his many contributions and expert counsel throughout his decades of service to Markel and its customers, employees, and shareholders," said Mr. O'Reilly. "Steve's leadership, wisdom, expertise, and commitment to Markel are unmatched and we look forward to continuing to benefit from his insights until he completes his board service next year. As we prepare for that transition, we have the utmost confidence that Tom brings the right mix of expertise, proven leadership and commitment and will seamlessly step into this new role and continue to drive substantial long-term value for our shareholders."
Mr. Markel said, "It has been an honor to work alongside so many talented people across Markel's businesses over the years. Markel has always been guided by a strong set of values — a long-term orientation, an ownership mindset and a commitment to doing things the right way — and I am proud of the culture we have cultivated. I am deeply grateful to our employees, customers, and shareholders for their trust and support, and I have every confidence that Markel is in the hands of tremendous leaders who will ensure it continues to thrive for years to come."
Markel also announced that Simon Wilson and Andrew Crowley, previously Executive Vice Presidents of Markel Group, have been promoted to the roles of Co-Presidents of Markel Group, effective immediately. The promotions reflect their successful efforts to further strengthen and drive focus across Markel's principal businesses. As Co-Presidents, Mr. Wilson and Mr. Crowley will serve as CEO of Markel Insurance and CEO of Markel Ventures, respectively.
Additionally, the Board announced the establishment of a Leadership Council, consisting of the Lead Independent Director, Chairman and CEO, and Co-Presidents. The Council is designed to facilitate regular coordination among independent Board leadership and senior management, and enhance the Board and management's review of the Company's strategy, performance, and capital allocation.
"Markel has a distinctive collection of businesses, strong franchises, and significant opportunities to continue to create value for shareholders, customers, and employees," said Mr. Gayner. "Our Company has always operated with a long-term orientation toward value generation, combining disciplined capital allocation with an ownership mindset. As we prepare for Steve's well-earned retirement, we will benefit from even greater connectivity between our Board and executive leaders as we continue to evolve and execute our strategy in alignment with those priorities. I look forward to collaborating with Mike, Simon, and Andrew as well as the full Board as we deliver on the many opportunities ahead for Markel."
About Markel Group
Markel Group Inc. is a diverse family of companies that includes everything from insurance to bakery equipment, building supplies, houseplants, and more. The leadership teams of these businesses operate with a high degree of independence, while at the same time living the values that we call the Markel Style. Our specialty insurance business sits at the core of our company. Through decades of sound underwriting, the Markel Insurance team has provided the capital base from which we built a system of businesses and investments that collectively increase Markel Group's durability and adaptability. It's a system that provides diverse income streams, access to a wide range of investment opportunities, and the ability to efficiently move capital to the best ideas across the company. Most importantly though, this system enables each of our businesses to advance our shared goal of helping our customers, associates, and shareholders win over the long term. Visit mklgroup.com to learn more.
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Bundespräsident Frank-Walter Steinmeier hat den Festakt zum Tag der Deutschen Einheit in Bremen für eine eindringliche Warnung vor der Gefährdung der Demokratie genutzt. In seiner voraussichtlich letzten großen Rede zu diesem Anlass sprach er von einer angefochtenen demokratischen Ordnung und mahnte, radikale Kräfte entschieden abzuwehren. Angesichts wachsender Erfolge populistischer und extremistischer Parteien sieht Steinmeier nicht nur Freiheit und Demokratie, sondern auch die innere Einheit des Landes unter Druck.
Steinmeier verwies darauf, dass inzwischen „ein Viertel und mehr“ der Wähler mit ihrer Entscheidung deutlich machten, dass sie sich von wichtigen Grundentscheidungen der Bundesrepublik abwenden. Diese Entwicklung werde begleitet von „unerträglicher politischer Demagogie“, in der Menschen verhöhnt und bedroht würden. Die Diskreditierung demokratischer Verfahren, die Radikalisierung der Öffentlichkeit und die Diffamierung des Kompromisses seien Warnsignale, die man nicht ignorieren dürfe. Populistische Parteien aller Couleur destabilisierten die parlamentarische Demokratie, sagte er.
Deutliche Kritik übte der Bundespräsident an der Rolle der sozialen Medien. Eine „Flut der Manipulationen und der Lügen“ trage zur „schrillen Emotionalisierung“ des politischen Diskurses bei und befeuere extremistische Tendenzen. Steinmeier forderte, die demokratische Streitkultur zu verteidigen und den Kompromiss wieder als Stärke zu begreifen. Ob die Demokratie in Deutschland einer Entwicklung ähnlich der Weimarer Republik entgegengehe, sei nicht entschieden – man habe es „in der Hand“.
Zugleich erinnerte Steinmeier an die historischen Grundlagen des Feiertags. Vor 36 Jahren sei mit der deutschen Wiedervereinigung eine „tiefe Wunde“ geheilt worden, die das Land zuvor über Jahrzehnte in einem „unnatürlichen Zustand der inneren Spaltung“ gehalten habe. Der Tag der Deutschen Einheit sei Anlass, die erste friedliche Revolution für Freiheit und Demokratie in Deutschland und ihre Protagonisten im Gedächtnis zu behalten. Die Errungenschaften der Einheit dürften von aktuellen Krisen nicht überdeckt werden, mahnte Steinmeier, und rief die Bürger dazu auf, sich aktiv für die liberale Demokratie einzusetzen. Er zeigte sich überzeugt, dass diese den aktuellen Belastungen standhalten könne: „Wir sind so viel stärker, als wir glauben.“
