NEWARK, N.J. – Prudential Financial, Inc. (NYSE: NYSE:), a financial services giant with a market capitalization of $45.35 billion, has announced a significant transition in its executive leadership, naming Andrew Sullivan as the forthcoming CEO, effective March 31, 2025. The current CEO, Charles F. Lowrey, will continue to serve as Executive Chairman of the Board for 18 months following the handover. According to InvestingPro data, the company has demonstrated strong performance with a 29.42% year-to-date return and maintains a robust GOOD financial health score.
Sullivan, who is presently the executive vice president and head of International Businesses and Global Investment Management, is set to take the helm as Prudential (LON:) approaches its 150th anniversary. His tenure at Prudential since 2011 has seen him in roles of escalating responsibility, including overseeing the firm’s U.S.-based businesses. The company has maintained its position as a prominent player in the insurance industry, with impressive revenue of $72.97 billion in the last twelve months.
Lowrey expressed confidence in Sullivan’s capabilities, noting his comprehensive understanding of the company’s operations and strategy. Sullivan, in turn, acknowledged the progress made under Lowrey’s leadership, particularly in steering Prudential toward higher growth and capital efficiency, refining its business mix, and investing in technology and product innovation.
In conjunction with Sullivan’s appointment, Caroline Feeney is set to become Global Head of Insurance and Retirement on the same date, overseeing Prudential’s domestic and international insurance and retirement businesses. This new role is expected to foster synergies and growth across the company’s global divisions.
Additionally, the company revealed that Robert Falzon, Vice Chair, will retire on July 11, 2025, after a distinguished 42-year career with Prudential. His retirement will follow his departure from the Board effective March 31, 2025.
Michael A. Todman, Prudential’s Lead Independent (LON:) Director, commended Lowrey for his transformative leadership and expressed the Board’s confidence in Sullivan’s ability to continue Prudential’s trajectory of growth.
Prudential Financial is a leading global financial services firm and active investment manager with approximately $1.6 trillion in assets under management as of September 30, 2024. The company is known for its expansive presence in the U.S., Asia, Europe, and…
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