Lloyd’s Register Group CEO, Alistair Marsh, is to step down and leave the classification society’s main Board at the end of 2020.
Nick Brown, Marine & Offshore Director, will succeed him, joining the Board on January 1, 2021. Brown’s appointment follows a comprehensive selection process reflecting LR’s long-term succession planning, the classification society said.
Marsh has spent 14 years at LR and more than five years as group ceo.
Thomas Thune Andersen, LR Chairman, said: “Alistair is an exceptional business leader who has transformed the company during his tenure. 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. 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 pandemic.
“The Board is delighted to appoint Nick as Group CEO at this natural inflexion point in our business cycle and strategic roadmap,” Andersen continued. “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.”
Commenting on Brown’s appointment as his successor, Marsh said, “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.”
Brown noted that he had experienced first-hand the differences that LR makes to clients and 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 the 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.”