“What keeps you up at night?”

That’s a common question from my more than nine years as CEO. While I have multiple accountabilities, I believe my most important job – and the one that’s likely cost me the most sleep – is ensuring my organization has the right talent.

I believe it’s the most important role of any Fortune 500 CEO.

That’s why as CEO of American Family Insurance, I’m heavily involved in diversity, inclusion, leadership development, employee engagement and succession planning. I’ve always wanted direct involvement in how and who we hire, develop and rotate across our enterprise.

I’ve also worked with American Family’s Board of Directors on my own succession as CEO. Nearly two years ago, I shared my intentions with them – that I would step away from the CEO role in January 2022. Today, I’m making those intentions known publicly.

But succession planning is about more than who replaces me. It’s a highly intentional leadership progression program we’ve grown during my time as CEO. We’ve built a depth of talent across the American Family leadership group in preparation for my departure and anticipated retirements of other senior-level executives.

In the past two years, we’ve rotated several folks into different leadership roles across the enterprise. We’ve also had more leaders engaged in major strategic initiatives, leading acquisitions, and presenting to our Board of Directors. This is vital to our growth and long-term success. It’s convinced me we have tremendous leaders and an outstanding successor for the CEO role.

So, during our meeting last week, I worked with our Board to set Dec. 31, 2021, as my final day as CEO. I will continue as Chair and CEO throughout 2021. The Board named Bill Westrate as CEO-Elect, effective Jan. 1, 2021, with the plan that he will become Enterprise CEO on Jan. 1, 2022. I will continue to serve as Board Chair in 2022 and beyond, working with Bill to create an orderly transition and continue our momentum as an organization.

As CEO-Elect, Bill will also transition into leadership roles inside our industry, including with the National Association of Mutual Insurance Companies and the American Property Casualty Insurance Association and continue as a board member of the Insurance Institute for Highway Safety.

As Enterprise President, Bill already has enterprise-wide oversight at American Family. He’s actively engaged in the strategy and operations of each operating company. He also has exceptional relationships with our exclusive agency owners – something he’s built in more than 22 years as an actuary, product leader and senior executive with our company.

This is the right time for me to step back. I’m a recent grandfather with three married children and youngest son in college. I have an amazing wife, best friend and partner in Sarah. I want to spend more time with her, travel and show my appreciation for all she’s done to support my career.  

This is also the right time for our enterprise. We have outstanding leaders ready for more opportunity and more responsibility. And the overlap of leadership – something common, especially in the insurance industry – is the right way to do it.  

I’m incredibly proud of my more than 35 years with American Family – and to have served as Chair and CEO for as long as I have. I’ll gladly talk about our progress and transformation as an enterprise. But I’m also proud of our next generation of leaders and excited for where they will take us.

If you know anything about me, you know I won’t be a part-time CEO for the next 17 months, either. I’ll be actively engaged in our strategy, continuing to use my voice on diversity, equity, and inclusion topics, and supporting Bill and many others in our leadership progression.

In the meantime, there’s plenty of work ahead, and I’m excited for it. I’m also confident – and losing less sleep these days – knowing we have the talent in place to do that work.