Prudential Financial has announced that its Board of Directors has appointed Andrew Sullivan, the company’s current Chief Executive Officer, to the additional role of Chairman of the Board. The appointment became effective on March 10, 2026, marking a significant leadership transition as the company continues to focus on long-term growth and strategic execution.
Sullivan succeeds Charles Lowrey, who stepped down from his role as Executive Chairman and director on the same date. Although Lowrey has resigned from his board position, he will remain involved with the company as a senior advisor until the end of the second quarter, at which point he plans to retire from Prudential. His departure concludes a notable 25-year career with the organization, during which he played a central role in shaping the company’s strategic direction.
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Throughout his tenure, Lowrey held several key leadership positions within Prudential. He served as Executive Chairman beginning in 2025, Chief Executive Officer from 2018 to 2025, and Chairman of the Board from 2019 to 2025. During these years, he led the company through a series of strategic initiatives aimed at strengthening Prudential’s market position and positioning the organization for future growth.
Andrew Sullivan expressed appreciation for the opportunity to assume the additional responsibility of Chairman. He described the appointment as an honor and emphasized his commitment to continuing the company’s strategic progress. According to Sullivan, Prudential remains focused on executing its long-term strategy with discipline while delivering value to both customers and shareholders. He also acknowledged Lowrey’s leadership and thanked him for the significant contributions he made to the company during his career.
During his leadership, Lowrey played a pivotal role in establishing the foundation for Prudential’s next phase of development. He oversaw multiple growth investments and strategic initiatives designed to strengthen the company’s competitive standing in the financial services market. His tenure also included several organizational changes and risk management efforts intended to enhance the company’s long-term resilience.
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One of the most challenging periods of Lowrey’s leadership came during the COVID-19 pandemic. During that time, he guided Prudential through significant economic and operational disruptions while prioritizing support for employees, customers, and the communities the company serves. The initiatives implemented during this period helped ensure operational continuity and reinforced the company’s commitment to its stakeholders.
Reflecting on his career, Lowrey noted that serving Prudential for more than two decades had been a meaningful and rewarding experience. He expressed pride in the accomplishments achieved during his time with the organization and thanked the company’s employees, board members, partners, and shareholders for their collaboration and support. Lowrey also expressed confidence in Sullivan’s leadership as Prudential moves forward into its next stage of growth.
Michael A. Todman, Prudential’s Lead Independent Director, also acknowledged Lowrey’s long-standing contributions to the company and thanked him for his dedication and leadership. Todman emphasized that the Board looks forward to continuing its work with Sullivan as both Chairman and CEO, highlighting the importance of strong governance, stakeholder engagement, and leadership continuity during this transition.
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With Sullivan now serving in both leadership roles, Prudential aims to maintain strategic alignment between the company’s management and board leadership. His deep understanding of the business and experience within the organization position him to guide Prudential as it continues to evolve in a rapidly changing financial services landscape.
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