Verisk, a leading global data analytics provider, announced the retirement of its Chairman, President, and CEO, Scott G. Stephenson. His retirement from the company will follow Verisk’s 2022 Annual Shareholder Meeting.
The Verisk Board of Directors has named the company’s current CFO and Group President, Lee M. Shavel, as the new CEO. Moreover, Mark V. Anquillare, currently COO of Verisk and group president, will become president of the company at that time.
Stephenson joined Verisk in 2001. During his time in the company, Stephenson held the positions of COO in 2008, president in 2011. He finally became CEO in 2013.
Under his leadership, the company nearly doubled its annual revenue, more than tripled its market capitalization. It also nearly tripled the number of countries in which it operates.
“It has been an honor to lead Verisk through critical and transformative periods for our company and the industries we serve. This is the right time to begin the transition to Verisk’s next leader. Our team has built powerful analytic and software platforms and a resilient business model that have enabled us to consistently deliver for our customers across market cycles by accelerating their transformation agendas. The company will continue to successfully deliver for shareholders into the future.” Said Stephenson
The new leadership
Lee M.Shavel joined Verisk in 2017. Since that time, he has served as CFO, driving the company’s financial strategy and capital management philosophy. In 2017, Shavel also became group president of the company’s energy and financial services segments.
“I am excited and humbled to be named as Verisk’s next CEO and to have the opportunity to build on our track record of success. We are well-positioned for the future, given our strong foundation, and I look forward to continuing to work closely with Scott to ensure a seamless transition. Together with Mark and the rest of our leadership team, we’ll continue our focus on executing on the most value-enhancing opportunities in the rapidly evolving data-analytics industry for the benefit of our valued customers, shareholders, and the Verisk community.” Said Shavel
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Mark V. Anquillare has nearly 30 years in Verisk. He served as CFO in 2009 and through 2016. Since that year he has served as Verisk’s COO, leading the company’s insurance vertical.
“I look forward to working alongside Lee and our leadership team as we further our industry leading position and continue to provide our customers with unmatched service and insights. This is an exciting time for our business and an incredible opportunity to build the future together with our customers.”
Furthermore, they will separate the roles of chair of the effective following 2022 annual meeting. Also, later that day, Verisk will announce the new CFO.
