Alastair Marsh has decided to step down from his position as chief executive of Lloyd’s Register at the end of the year, when he will be replaced by current marine and offshore director Nick Brown.
Marsh is credited with modernising Lloyd’s Register's business during his tenure after taking over as chief executive from Richard Sadler in 2015. Marsh will step down from the board but continue in an advisory and non-executive role.
Lloyd’s Register chairman Thomas Thune Andersen described Marsh as “an exceptional business leader who has transformed the company during his tenure”.
He said Marsh had made Lloyd’s Register “a far more agile and customer-focused organisation, with a strong growth platform in innovative digital services, whilst also achieving greater operational excellence”.
While Marsh’s background is in finance, his 45-year-old successor is very much associated with the diversified classification society's marine business.
Strong track record
Andersen said that Brown's appointment is intended to signify the start of the “next chapter” in Lloyd’s Register’s 260-year history.
“Nick has a deep understanding and experience of our business and the sectors and markets in which we operate, as well as a strong track record of delivering consistent high-quality services and business growth. He is a customer-focused leader with a passion for purpose who epitomises our values,” Andersen said.
Brown is regarded as a progressive figure in the shipping industry who is keen to use the changes brought about by the pandemic as an opportunity to modernise some of the traditional ways of certifying and inspecting ships.
Brown said: "My new role comes at a time of change — the pandemic, global economic recovery and climate change — and I am confident Lloyd’s Register has both the agility and resilience to survive and thrive. We are well equipped for the future, building upon Alastair’s legacy of company transformation.”
Lloyd’s Register has yet to decide who will replace Brown in his current role.
“I have worked closely with Nick for many years and think he’s a natural choice to lead the company,” Marsh said. “He knows the company inside out having risen through the ranks, yet his views are progressive and forward looking.”
