Liberty Mutual Insurance named Timothy M. Sweeney to succeed David H. Long as chief executive officer in January 2023.
Sweeney also becomes a member of the board of directors effective immediately.
Long has been at Liberty Mutual for 37 years, becoming president in 2010, CEO in 2011 and chairman in 2013. Under his leadership as CEO, Liberty Mutual has grown to the sixth-largest global property/casualty insurer and has been recognized with numerous awards for its philanthropic, workplace culture, and diversity, equity and inclusion efforts, Liberty Mutual said in a statement.
“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 in a statement. “Tim is an outstanding leader who will continue to drive the organization forward, harnessing the strength of our global organization.”
Sweeney, who is based in Boston, will become the 10th CEO in Liberty Mutual's 110-year history and has been at the company for nearly 30 years. He was appointed president in 2021, overseeing the organization's three business units—global risk solutions, global retail markets and Liberty Mutual Investments. Sweeney previously served in a variety of senior leadership positions, including president, in GRM, the company's global personal and small commercial insurance division, according to the company.
Also effective in January 2023, Liberty Mutual named Damon Hart as secretary. This new role is in addition to his current role as executive vice president and chief legal officer.
Mark Touhey, EVP, corporate secretary and chief of staff to the chief executive officer, will retire at the end of 2022, according to the company.
In his additional role as secretary, Hart will be responsible for overseeing governance for the company's board of directors. Hart, who has been part of the company's executive leadership team since 2021, will report to Sweeney, the company said.
Hart joined Liberty Mutual in 2014 and was promoted to deputy chief legal officer in 2020 before his current appointment. Prior to this, he served as senior vice president and deputy general counsel for litigation and coverage, overseeing the interests of Liberty Mutual and providing enterprise-wide coverage advice and opinions. He also spent several years as deputy general counsel for Employment Legal, according to a company statement.
Touhey has worked at Liberty Mutual for 28 years, serving in multiple senior leadership positions across the global risk solutions business unit, talent and enterprise services and corporate finance departments. He has served in his current role since 2016, overseeing the company's board of directors engagement and corporate governance and community investments. He also has led the organization's corporate strategy and research department, according to a company statement.