Prudential Picks Insider Sullivan as Next CEO

Prudential Financial has announced its new leader, naming Andrew Sullivan as the next CEO, effective March 31, 2025. Sullivan, currently serving as executive vice president and head of International Businesses and Global Investment Management, will succeed outgoing CEO Charles F. Lowrey, who will remain as Executive Chairman for 18 months to support the transition.

Sullivan brings a deep understanding of Prudential's operations, having played a pivotal role in driving the company's strategy since joining in 2011. His experience overseeing both the International Insurance segment and PGIM, the firm's $1.4 trillion global investment management business, positions him well to lead the company into its next chapter.

"Andy is an exceptional leader who brings a deep understanding of our businesses, our strategy, our people, and our customers to this role," Lowrey said. "As we approach the 150th anniversary of Prudential's founding, now is the right time to elevate the next generation of leadership, and I look forward to continuing to support Andy in my role as Executive Chairman."

Caroline Feeney, who has successfully led Prudential's U.S. Businesses since 2021, will expand her role to become Global Head of Insurance and Retirement. This newly created position will oversee Prudential's market-leading domestic and international insurance and retirement businesses, effective March 31, 2025. Feeney and incoming head of PGIM Jacques Chappuis will both report to Sullivan.

The company also announced that Vice Chair Robert Falzon will step down from the Board, effective March 31, 2025, and retire from Prudential, effective July 11, 2025. Falzon's 42-year career with Prudential includes serving as executive vice president and CFO, company treasurer, and head of various investment and real estate groups.

Prudential's choice of Sullivan as the next CEO signals a commitment to continuity and growth. With his extensive experience and understanding of Prudential's operations, Sullivan is well-positioned to build on the company's progress under Lowrey's leadership and drive it into the future.



As Sullivan takes the helm, investors will be watching for his strategic vision and plans for the company's continued growth and success. His appointment, along with the expansion of Feeney's role, indicates a focus on leveraging synergies between U.S. and international insurance and retirement businesses, potentially driving collaboration and growth.



Prudential's stock has outperformed the S&P 500 Financials index over the past three years, reflecting the company's strong performance and growth potential. As Sullivan takes the reins, investors will be eager to see if he can maintain and build on this momentum, capitalizing on the company's diverse businesses and global reach.