Markel Group, the parent company of the insurance business Markel, has appointed Brian Costanzo, the current chief financial officer (CFO) of Markel, as the new CFO of the group. Costanzo assumed this role within the group on December 18 while retaining his position as Markel’s finance chief. As per the announcement by Markel Group, the former group CFO, Teri Gendron, will depart from the company on December 31. Gendron joined the company on March 20. However, the reason for her departure by the year-end has not been disclosed.
Before the New Year, Bob Cox, Markel's President and Chief Operating Officer of Global Insurance Operations, will also be departing. Additionally, Alex Martin transitioned from his role as Markel CFO to assume the position of Markel Specialty President at the beginning of this month. Commenting on the recent appointment, Tom Gayner, the CEO of Markel Group, stated, "Brian's proven leadership will ensure our financial discipline and drive sustained profitable growth. I extend gratitude to Teri for her contributions in advancing the CFO function at the holding company level".
Having been part of the enterprise for 14 years, Costanzo, serving as the Chief Financial Officer for both Markel Group and Markel, will oversee and manage all financial operations for the holding company and the insurance division. Meade Grandis, the Managing Director of Accounting Policy and Reporting with 13 years of experience in the business, will assume the role of Chief Accounting Officer and Controller at Markel Group.