Prudential Financial Appoints Andrew Sullivan as New CEO

Prudential Financial Introduces Andrew Sullivan as CEO

Prudential Financial, Inc. (NYSE: PRU) has made a significant announcement: the Board of Directors has officially appointed Andrew Sullivan to take on the role of CEO. This pivotal moment in the company's evolution signifies a new chapter, with Sullivan expected to begin his leadership journey on March 31, 2025.

Sullivan's Background and Experience

Andrew Sullivan is no stranger to Prudential. He has been an integral part of the company since 2011, holding various leadership positions that showcase his executive acumen and expertise. Most recently, he served as the executive vice president responsible for International Businesses and Global Investment Management. In this capacity, Sullivan has played a vital role in shaping the company’s strategic direction, overseeing crucial divisions such as the International Insurance segment and PGIM, Prudential's global investment management business with assets exceeding $1.4 trillion.

Transition of Leadership

The current CEO, Charles F. Lowrey, is set to transition to the role of Executive Chairman of the Board for the following 18 months. In his new capacity, Lowrey will assist Sullivan in acclimating to the CEO position while providing guidance and support. This transition codifies Prudential's commitment to fostering leadership continuity, especially as it approaches its 150th anniversary, a milestone that emphasizes the company's long-standing commitment to its core values.

The Vision Ahead

Sullivan expressed his gratitude for the opportunity to lead Prudential during such a transformative time. He stated, “I am honored to have the opportunity to lead this company as it embarks on its next chapter.” Acknowledging the groundwork laid by Lowrey, Sullivan aims to leverage Prudential’s strengths to enhance its growth potential and ensure greater capital efficiency within the organization.

Future Goals for Prudential

Under Sullivan’s leadership, Prudential plans to advance its strategic objectives, emphasizing innovations in products and enhancements in technology. The aim is to establish a more robust foothold in investing, insurance, and retirement security, which are crucial pillars of the company’s operations. Sullivan envisions Prudential continuing its efforts to expand access and create financial opportunities for a wider audience.

Strategic Changes in Leadership Roles

In addition to the CEO appointment, Prudential announced the expansion of Caroline Feeney’s role within the organization. As of March 31, 2025, she will take on the position of Global Head of Insurance and Retirement. This newly created role will encompass both Prudential’s domestic and international insurance and retirement sectors, further enhancing cooperation and growth within the company’s operations.

The Board’s Confidence in Leadership

The Board of Directors expressed their strong confidence in Sullivan as the right choice to continue Prudential’s trajectory of innovation and growth. Michael A. Todman, Prudential’s Lead Independent Director, highlighted Sullivan’s extensive knowledge and familiarity with the company’s strategies, praising his readiness to lead during this critical transition. The Board has thoroughly evaluated multiple candidates for this role, signifying the thoughtfulness behind this significant decision.

Farewell to Long-Serving Leaders

As Prudential welcomes new leadership, it also bids farewell to veteran executive Robert Falzon, who will step down as Vice Chair and retire after a remarkable 42-year career. His extensive contributions to Prudential have included vital roles in financial management and overseeing the firm’s international divisions. He leaves a legacy of leadership that has played a crucial part in Prudential’s success over decades.

A Legacy of Strength and Innovation

Prudential Financial, Inc. (NYSE: PRU) is recognized as a leading global financial services provider that has maintained its commitment to innovation and excellence for nearly 150 years. With approximately $1.6 trillion in assets under management and presence across multiple continents, Prudential exemplifies strength, stability, and expertise in the financial sector. This recent leadership transition serves as a testament to its ongoing commitment to meet the evolving needs of its customers while driving growth and innovation.

Frequently Asked Questions

Who has been appointed as the new CEO of Prudential Financial?

Andrew Sullivan has been appointed as the new CEO of Prudential Financial, effective March 31, 2025.

What role will Charles Lowrey play after stepping down as CEO?

Charles Lowrey will assume the role of Executive Chairman of the Board and will support Andrew Sullivan during his transition into the CEO role.

What key divisions does Andrew Sullivan oversee currently?

Sullivan oversees Prudential's International Insurance segment and PGIM, the global investment management business of the firm.

What new position will Caroline Feeney take on?

Caroline Feeney will expand her role to become Global Head of Insurance and Retirement from March 31, 2025.

How long has Robert Falzon worked at Prudential?

Robert Falzon has worked for Prudential for 42 years and is retiring from the company in July 2025.

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