Glenn Spencer has resigned as president and CEO of Lockton Cos. Inc., effective immediately, and has been succeeded by Vice Chairman Ron Lockton.

Spencer officially became president and CEO of the Kansas City-based company on May 1, when John Lumelleau retired after 12 years in the role. The company said only that the resignation was “for personal reasons, effective immediately.”

Lockton is Colorado's largest business insurer based on premiums paid in the state, which totaled $2.32 billion in 2016, according to Denver Business Journal List research.

After Lumelleau announced that he would retire, Chairman David Lockton said that choosing Spencer to take over as CEO was one of the biggest decisions he’d likely ever make.

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