Pru Names New CEO

"Charlie was the principal architect of a complex strategic transformation that has positioned Prudential to be a nimble, dynamic and high-growth company for years to come," Todman said.

Andrew Sullivan

Sullivan has a bachelor's degree from the U.S. Naval Academy.

He served for five years as a lieutenant in the Navy, then worked for about a year as a management consultant, before entering the insurance industry as an executive at two health insurers, Cigna and CareFirst.

When he started at Prudential, he was an executive in its group insurance business.

He rose up the ranks at the benefits businesses, then took over as head of the U.S. businesses in 2019.

He became head of the international businesses, which operate in 13 countries outside the United States, in January 2023. He also has been the executive in charge of PGIM, Prudential's asset management business.

Other Executives

Caroline Feeney, who has been head of Prudential's U.S. businesses since 2021, will become global head of insurance and retirement at the end of March.

Feeney and Jacques Chappuis, the incoming head of PGIM, will both report to Sullivan once he becomes CEO, Prudential said.

Compensation

Annual target total compensation for Sullivan will be $18.8 million, according to a regulatory filing.

Feeney could make $11 million, and Lowrey could make $6 million.

Andrew Sullivan. Credit: George Schaller/Prudential