Connecticut Business & Industry Association CEO Joseph Brennan, who has been with the statewide trade association for nearly 32 years, will retire in late June, officials announced Wednesday.
Rumors of Brennan’s retirement had been circulating in recent months.
Brennan, 65, first joined CBIA in the late 1980s as a staff attorney. He climbed the ranks over the years, assuming the top role in 2015, succeeding John Rathgeber after his retirement.
CBIA said it is conducting a search for Brennan’s replacement.
Introducing Brennan Wednesday at CBIA’s annual Connecticut Biz Day at the Legislative Office Building in front of delegations from 40 chambers and business groups from around the state, Waterbury Regional Chamber of Commerce CEO Lynn Ward broke the news.
“We are better as a result of your leadership,” Ward said.
Brennan, who took the podium to applause, did mention his pending retirement.
“I think it provides tons of value for us to be up at the Capitol,” Brennan told a room of 100 or so business leaders at the Legislative Office Building.
He said day-to-day work by the chambers of commerce in attendance is just as important.
“I appreciate the effort you put in, not just today, but 365 days a year serving your members,” he said.
Addressing the crowd later in the event, Gov. Ned Lamont called Brennan a friend.
“One of the great things I love about Joe Brennan is, agree or disagree, he gives me a good constructive alternative,” Lamont said. “That’s what I need in this building. You don’t like my idea? Give me a better idea so I have something to think about. That’s how I get to middle ground and move things forward.”
As CEO, Brennan has steered CBIA through three biennial budget sessions at the state Capitol, two under former Gov. Dannel P. Malloy and the most recent under Gov. Ned Lamont.
His very first, in 2015, was a trial by fire, as lawmakers passed roughly $1 billion in tax hikes and other revenue increases on businesses and hospitals.
CBIA joined with General Electric, Aetna and Travelers in helping to convince the legislature to walk back or reshuffle, to the tune of about $350 million, the tax increases that had passed into law.
During Brennan’s tenure, CBIA has kept its dues revenue relatively stable, but its once dominant private health insurance exchange for members — which was weakened by Obamacare and other changes over the years — hit CBIA’s fiscal year 2018 financials revenue, which fell from $7.8 million to $4.2 million. Its 2019 results are not yet available.
CBIA has since shifted its benefits strategy, aligning itself with ConnectiCare and moving its focus to self-funded health insurance plans.
