Lincoln Financial has picked Brian Kroll, a former company executive, to take over as head of retail life and annuity solutions.
Kroll succeeds Matt Grove, who will serve as a company advisor until Dec. 31, according to a new filing.
Ellen Cooper, Lincoln Financial's CEO, said the company expects Kroll to help the life and annuity unit increase profitable growth and shift toward sales of products with more stable cash flows and higher risk-adjusted returns.
"His deep expertise and collaborative leadership style will add tremendous value," Cooper said.
Earlier this month, Cooper told securities analysts that tougher competition hurt the company's annuity sales in the first quarter.
John Kennedy, an executive vice president, continues to be Lincoln's chief distribution and brand officer.
Matt Grove: Lincoln hired Grove in 2022.
He previously was the CEO of Resolution Life USA.
