We would love to hear from you. Click on the ‘Contact Us’ link to the right and choose your favorite way to reach-out!

wscdsdc

media/speaking contact

Jamie Johnson

business contact

Victoria Peterson

Contact Us

855.ask.wink

Close [x]
pattern

Blog + Articles

Categories

  • Industry Articles (11,353)
  • Industry Conferences (2)
  • Industry Job Openings (9)
  • Negative Media (122)
  • Positive Media (73)
  • Sheryl's Articles (450)
  • Sheryl's Blogs (142)
  • Wink's Articles (173)
  • Wink's Blogs (133)
  • Wink's Press Releases (68)
  • Blog Archives

  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016
  • July 2016
  • June 2016
  • May 2016
  • April 2016
  • March 2016
  • February 2016
  • January 2016
  • December 2015
  • November 2015
  • October 2015
  • September 2015
  • August 2015
  • July 2015
  • June 2015
  • May 2015
  • April 2015
  • March 2015
  • February 2015
  • January 2015
  • December 2014
  • November 2014
  • October 2014
  • September 2014
  • August 2014
  • July 2014
  • June 2014
  • May 2014
  • April 2014
  • March 2014
  • February 2014
  • January 2014
  • December 2013
  • November 2013
  • October 2013
  • September 2013
  • August 2013
  • July 2013
  • June 2013
  • May 2013
  • April 2013
  • March 2013
  • February 2013
  • January 2013
  • December 2012
  • November 2012
  • October 2012
  • September 2012
  • August 2012
  • July 2012
  • June 2012
  • May 2012
  • April 2012
  • March 2012
  • February 2012
  • January 2012
  • December 2011
  • November 2011
  • October 2011
  • September 2011
  • August 2011
  • July 2011
  • June 2011
  • May 2011
  • April 2011
  • March 2011
  • February 2011
  • January 2011
  • December 2010
  • November 2010
  • October 2010
  • September 2010
  • August 2010
  • July 2010
  • June 2010
  • May 2010
  • April 2010
  • March 2010
  • February 2010
  • January 2010
  • December 2009
  • November 2009
  • October 2009
  • August 2009
  • June 2009
  • May 2009
  • April 2009
  • March 2009
  • November 2008
  • May 2008
  • February 2008
  • Prudential Financial Announces Leadership Succession Plan; CEO to Retire

    September 13, 2018 by David Pilla

    NEWARK, N.J. – Charles Lowrey will be the next chief executive officer of Prudential Financial Inc. as the company announced John Strangfeld will retire as CEO on Nov. 30.

    Lowrey will also become a member of the board of directors effective Dec. 1, Prudential said in a statement. Lowrey is currently executive vice president and chief operating officer, international businesses.

    Strangfeld will be non-executive chairman of the board of directors until April 5, 2019, at which time Lowrey will also become chairman, the company said.

    Click HERE to read the original story via A.M. Best. 

    The board also said Robert Falzon, EVP and chief financial officer, will be vice chairman effective Dec. 1. Falzon will succeed Mark Grier, who will retire from Prudential and step down from the board in August 2019. At that time, Falzon will join the board.

    “Grier will transfer his functional management responsibilities to Falzon on Dec. 1, 2018, and will support Falzon and Lowrey in their transitions, as well as focus on concluding some specific strategic projects,” Prudential said.

    The company said as part if its succession planning process, it will announce the selection of internal candidates to replace Lowrey and Falzon and expects to name a new chief operating officer, international businesses, and a new chief financial officer “next week.”

    “The executive appointments announced today are the culmination of rigorous succession planning that the board has been engaged in for the past several years and are modeled in part after the roles John and Mark established working together as chairman and CEO and vice chairman, respectively, over the past decade,” said Thomas Baltimore, lead independent director of Prudential’s board, in a statement.

    Strangfeld said in a statement Lowrey “is the right leader for Prudential’s future” as Lowrey had “successfully led our asset management, U.S. and international businesses.” Strangfeld added Falzon will assume the role of vice chairman and join Lowrey as a member of Prudential’s Office of the Chairman.

    “After a fulfilling 41-year career at Prudential, including almost 11 years as chairman and CEO, now is the right time for the company to transition to its next generation of leadership,” said Strangfeld.

    Prudential said Strangfeld’s retirement concludes a four-decade career with the company, including serving as chairman and CEO since 2008. Under Strangfeld’s leadership, Prudential “emerged as a premier provider of retirement, investment management and financial protection solutions for both individuals and institutions.”

    The company said among its achievements under Strangfeld, it became one of the 10-largest global asset managers, contributing to $1.4 trillion in assets under management as of June 30, 2018. It also completed more than $100 billion in pension risk transfer transactions, “establishing Prudential as an innovative leader in this space.”

    One example of this was in February, when Prudential Insurance Company of America, part of Prudential Financial, agreed to assume about $1.8 billion of annuity liabilities held by U.K.-based Scottish Widows (Best’s News Service, Feb. 5, 2018). It was the first longevity reinsurance agreement between the companies.

    Underwriting affiliates of Prudential Financial Inc. have current Best’s Financial Strength Ratings of A+ (Superior).

    Shares of Prudential Financial Inc. (NYSE: PRU) were trading at $96.76 on the afternoon of Sept. 12, down 0.92% from the previous close.

    (By David Pilla, news editor, BestWeek: David.Pilla@ambest.com)

    BN-NJ-9-12-2018 1344 ET #

    Originally Posted at AM Best on September 12, 2018 by David Pilla.

    Categories: Industry Articles
    currency