Fifth Generation Takes Over at Gregory Appel & Associates
Indianapolis, IN – Gregory & Appel Insurance has announced today that Dan Appel will retire as Chairman and CEO at the end of the year after leading the fiercely independent organization for 41 years. Andrew Appel will succeed him as CEO beginning the fifth-generation of family leadership effective January 1.
Dan Appel will continue to serve as Non-Executive Board Chair and will transition his focus on the expansion of his community leadership and philanthropic work.
“It has been a privilege to work alongside some of the best people in the industry. I am truly humbled by the commitment my colleagues have demonstrated not only to our organization, but to our clients and community,” said Dan Appel reflecting on his tenure at Gregory & Appel. “I look forward to continuing the expansion of my philanthropic efforts and am especially excited to see the next phase of Gregory & Appel come to fruition under the leadership of my son.”
Dan Appel joined Gregory & Appel in 1978 as the fourth generation of family ownership and began a series of innovations that would lead to significant growth across the organization, including the addition of employee benefits and expansion of the personal insurance division.
“Dan’s strategic vision and innovation has resulted in our organization growing to seven times the size since he began his leadership role,” said David Riley, CFO, Gregory & Appel. “He has unquestionably been a remarkable leader with a steadfast commitment to our community.”
Under Dan Appel’s leadership the organization has prospered from 25 employees to now over 140 team members. The Indiana Chamber of Commerce has consistently recognized Gregory & Appel among the Best Places to Work in Indiana, including #1 Best Place to Work in 2017.
Dan Appel initiated a strategic succession plan that would allow the organization to remain independent in an industry with widespread mergers and acquisitions, by offering stock ownership to employees. Accordingly, the shareholder population has expanded from Dan Appel alone to 32 employee shareholders.
“In an industry where most agencies are sold during times of leadership transition, my father had the strategic foresight to develop a perpetuation plan that would not only maintain family ownership, but extend shareholder opportunity to our Gregory & Appel colleagues,” said Andrew Appel, President, Gregory & Appel. “His vision made our independent ownership possible. I am honored to continue his legacy of servant leadership and advancement, and look forward to leading our organization to our next phase of success and innovation.”
In his philanthropic efforts and advocacy for the cultural arts, Dan Appel is widely respected for his considerable community involvement with organizations such as Noble of Indiana, Citizens Energy, The Richard M. Fairbanks Foundation, The Indianapolis Museum of Art and many others.
About Gregory & Appel Insurance
Gregory & Appel Insurance is a fiercely independent risk management advisor, proactively guiding people and businesses through the complexities of insurance and employee benefits with smart, future-focused solutions. Learn more at gregoryappel.com.