Prudential Financial names Andrew Sullivan its next CEO

Prudential Financial’s (NYSE:PRU) board appointed Andrew Sullivan its next CEO, effective March 31, 2025, succeeding Charles F. Lowrey, the company said Tuesday.

Lowrey will remain as executive chairman of the board for 18 months.

Sullivan currently serves as executive vice president and head of International Businesses and Global Investment Management. In his current role, he oversees the company’s International Insurance segment and PGIM, the firm’s $1.4T global investment management business. Since joining the company in 2011, he has held successive leadership positions, including heading all of the firm’s U.S.-based businesses.

Caroline Feeney will expand her role to become global head of Insurance and Retirement, a newly created position overseeing Prudential’s (NYSE:PRU) domestic and international insurance and retirement business, effective March 31, 2025. She and incoming head of PGIM Jacques Chappuis will report to Sullivan in his role as CEO.

Last month, the company announced that Chappuis, a former Morgan Stanley executive, would become PGIM’s president and CEO.

Vice Chair Robert Falzon will step down from the board, effective March 31, 2025, and retire from Prudential (NYSE:PRU), effective July 11, 2025.