Ryan Specialty announced that its Board of Directors has unanimously approved a leadership succession plan effective October 1, 2024.

Under the plan, Patrick J. Ryan (pictured), the company’s founder, chairman and chief executive officer, will transition to the role of executive chairman. Timothy W. Turner, who currently serves as President of Ryan Specialty and Chairman and Chief Executive Officer of Ryan Turner Specialty, will become CEO. Turner joined Ryan Specialty in 2010 and has more than 37 years of industry experience. He has helped grow RT Specialty into one of the leading wholesale distributors of specialty insurance solutions in the United States. Turner will also continue to serve on the Board of Directors.

Jeremiah R. Beckham, Chief Financial Officer, will be named President, and Janice M. Hamilton, Chief Accounting Officer, will assume the role of Chief Financial Officer.

Beckham brings significant financial and operational experience, having held various positions since joining the company in 2011, including Treasurer and Head of Corporate Development.

Meanwhile, Hamilton has more than 20 years of experience in both the US and international insurance markets. She has been with Ryan Specialty for more than six years, where she previously served as Chief Accounting Officer and Accounting Officer. Before that, she was CFO of MTrust International.

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In a statement, Ryan highlighted the company’s operational success over the past several years, noting that significant actions have positioned Ryan as a sustainable growth company.

“With clear positive momentum and a deep roster of proven leaders, now is the time to implement this carefully planned leadership succession,” he said. “Tim joined me at Ryan Specialty when we founded it in 2010 and has been an invaluable partner and key partner in our success to date, which has been characterized by our ambitious M&A strategy, commitment to continuous innovation, and continued investment in talent. The Board and I believe he is the right leader to guide Ryan Specialty is in its next chapter and we expect this to be a smooth transition.

Ryan also expressed confidence in the new leadership team, noting that Turner, Beckham and Hamilton were all exceptional leaders with significant industry experience.

“As I assume the role of CEO, I look forward to continuing as an active member of the company’s executive team, working alongside the Board of Directors and our strong leadership to build on our track record of outstanding service to customers and business partners and generating additional shareholder value,” Ryan said.

“I am honored to serve as Ryan Specialty’s next CEO and lead our talented team in delivering value to our customers, business partners and ultimately our shareholders,” Turner added.

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