Lockton, the closely held insurance broker that was founded in 1966, named Glenn Spencer to be the next chief executive officer and president, replacing John Lumelleau, who has held those posts since 2002.

Spencer, who is chief operating officer and president of U.S. operations, will take the CEO role April 30 when Lumelleau steps down, the Kansas City, Missouri-based company said Thursday in a statement distributed by PR Newswire.

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