Robert Lerton “Bob” Young, founder of a company that grew to become claims-management giant Sedgwick, died on Feb. 20, the company announced Wednesday. He was 83.
Young in 1969 founded a small claims services company in San Francisco. The company grew to employ 500 people by the time he handed off control to current President and CEO David North in 1996.
Sedgwick, now headquartered in Memphis, Tenn., currently employs 27,000 people in 65 countries. North credited Young for the success.
“Sprouting from humble beginnings with Bob’s vision and passion, Sedgwick now takes care of more people in more places than any other third-party claims administrator in the world,” North said in a statement. “The establishment of our organization is widely regarded as having a seismic impact on the global insurance industry.”
In a separate personal statement, North said Young took him under his wing before retiring in 1996 and spent a full year showing him how to run the business.
“Of all the lessons I learned from Bob, the one I’ll always cherish most is his focus on people,” he said.
Young resided in Pinehurst, N.C. at the time of his death, according to an obituary published by the Sandhills Sentinel. He died at FirstHealth Moore Regional Hospital in Pinehurst.
Young was born in Columbus, Ohio. He attended Milliken University and Ohio State University before founding the predecessor to Sedgwick in 1969. The company was headquartered in Chicago when he retired and turned operations over to North.
Young was a music lover and involved in the Barbershopper’s Golf Capital Chorus in Pinehurst for many years, according to his obituary. He enjoyed golf, reading, classic movies, fine cuisine, wine, traveling, crossword puzzles and loved dogs.
Young is survived by his sister, Mary Lou Young King, and his nieces Nicole King and Kimberly Morrow. He was preceded in death by his wife Caroline, his parents Robert and Beatrice Young, and his beloved dogs Murphy and Calloway “Callie,” according to the obituary.
Young asked that no services be held in his memory.
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