The Hanover Insurance Group announced that President and CEO John C. Roche plans to retire on December 31, 2026, and the board has appointed Chief Operating Officer Richard W. Lavey as CEO-elect. Roche, 62, joined the company in 2006 and has served as CEO since 2017, leading the firm to record operating earnings and stock price appreciation. Lavey, 59, has been with The Hanover since 2004 and currently oversees the strategic transformation of the operating model as COO while also leading Hanover Agency Markets, which accounts for 75% of the company's $7 billion in consolidated gross premiums written. The transition will be managed jointly, and the company will provide further updates during its July 29 earnings call and a September 17 investor day.
The Hanover Insurance Group IncCEO succession plan announced; leadership change may affect strategy but no immediate financial impact.
Roche Holding AG