Liberty Mutual has announced that Chairman and CEO David H. Long will retire at the end of 2022. Timothy M. Sweeney has been chosen to succeed Long as chief executive officer effective January 2023. He also becomes a member of Liberty Mutual’s board of directors effective immediately.

Long, who will become executive chairman of the board, has been with Liberty Mutual for 37 years. He became president in 2010, CEO in 2011 and chairman in 2013. He is credited with growing Liberty Mutual into the sixth-largest global P/C insurer and for strategically positioning the company through major acquisitions including Ironshore, AmTrust Financial Services, State Auto Group and AmGeneral. Long is also known for his philanthropy and his efforts in diversity, equity and inclusion.

“Liberty Mutual has been a part of my life for nearly four decades. The company has experienced significant change, challenges and transformation over the years, and I’m fortunate to have been a part of it all,” said Long. “Tim is an outstanding leader who will continue to drive the organization forward, harnessing the strength of our global organization. I’m extremely grateful to our employees as they are what makes this an exceptional place to work by doing what’s right for our customers, partners, communities and each other.”

Besides Liberty Mutual, Long serves on the boards of multiple organizations, including Eversource Energy, Massachusetts Competitive Partnership, Tamarack Technologies, Ford’s Theatre in Washington, D.C., and Massachusetts General Hospital, where he also acts as chairman for its annual Aspire gala fundraiser to benefit children and young adults on the autism spectrum. He also serves on the MIT President’s CEO Advisory Board and is chair of the Board of Trustees for his alma mater Hartwick College. He was honored by the Boston-based USS Constitution Museum and Bridge Over Troubled Waters, a non-profit that services homeless and high-risk youth and is supported by the Liberty Mutual Foundation.

Sweeney, who has been with the company for nearly 30 years, will become the 10th CEO in Liberty Mutual’s 110-year history. He was appointed president in 2021, overseeing the organization’s three business units: Global Risk Solutions, Global Retail Markets (GRM) and Liberty Mutual Investments.

Liberty Mutual said Sweeney is also passionate about DEI and is the co-executive sponsor of the company’s employee resource group focused on people with disabilities and those who are caregivers, family members and allies. He is also on the board of Blue Cross Blue Shield of Massachusetts, the Statue of Liberty-Ellis Island Foundation Inc., the Massachusetts General Hospital annual Aspire gala fundraiser, as well as the executive committee of the board of the Massachusetts Business Roundtable.

Source: Liberty Mutual