Prudential Financial Announces Leadership Changes

Prudential Financial Inc. recently disclosed in an 8-K filing with the U.S. Securities and Exchange Commission that the Board of Directors has made significant leadership appointments. Effective March 31, 2025, Andrew F. Sullivan is set to take the reins as the company’s President and Chief Executive Officer, while also becoming a member of the Board.

Sullivan, currently serving as the Executive Vice President and Head of International Businesses and Global Investment Management at Prudential Financial, will succeed Charles F. Lowrey as CEO. Lowrey, in turn, will transition to the role of Executive Chairman, continuing to guide the company.

Another key appointment announced by Prudential Financial is the naming of Caroline A. Feeney as the Executive Vice President and Global Head of Insurance and Retirement, a newly created position. This change, set to take effect on March 31, 2025, marks an important step in the company’s executive leadership restructuring.

Additionally, Robert M. Falzon, the Vice Chairman of Prudential Financial, will be resigning from the Board on March 31, 2025, and retiring from the company on July 11, 2025. Falzon, with a 42-year tenure at the firm, has held various significant roles within Prudential Financial, including Executive Vice President and CFO, Company Treasurer, and managing director positions at PGIM Real Estate.

In light of these succession planning adjustments, the Board deliberated on compensation changes related to the transition in leadership roles. Starting March 31, 2025, revised compensation packages were outlined for each key executive involved in the leadership transition, including salary adjustments, annual incentives, and long-term incentive remuneration.

The Board of Directors also stated that there are no related party transactions involving the incoming President and CEO, Andrew F. Sullivan. Furthermore, a news release dated December 3, 2024, informing of these leadership modifications was provided by the company alongside the filing.

The 8-K filing further disclosed that Prudential Financial Board of Directors has voicing confidence in the strategic direction with the newly appointed executives, emphasizing the company’s commitment to sustained growth and innovation. With these changes, Prudential Financial aims to continue its legacy of leadership in the investing, insurance, and retirement security sectors.

For more detailed information and biographical data about Andrew F. Sullivan, the Company has referenced the 2023 Annual Report on Form 10-K. Additionally, the news release issued on December 3, 2024, included the full details of the leadership transitions.

Media Contact:
Bill Launder
Head of Corporate Communications
[email protected]

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Prudential Financial’s 8K filing here.

About Prudential Financial

Prudential Financial, Inc, together with its subsidiaries, provides insurance, investment management, and other financial products and services in the United States and internationally. It operates through PGIM, Retirement Strategies, Group Insurance, Individual Life, and International Businesses segments.