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Prudential Financial’s Chairman And CEO Announces Senior Organizational Changes

Stocks in this article: PRU

Prudential Financial, Inc. (NYSE:PRU) today announced a number of senior management changes that are designed to match the company’s strategic priorities with its talent management strategy.

Prudential Chairman and CEO John Strangfeld announced that Ed Baird, executive vice president and chief operating officer of Prudential’s International Division, will retire from that position on April 4. Baird, who joined Prudential in 1979, was appointed to head the company’s international businesses in 2008 after serving in several senior management roles. He previously served as president of Prudential’s Group Insurance business, chairman and president of Pruco Life Insurance Company, and chief representative of Prudential Investment Management, Inc., where he oversaw Prudential’s Retail and Institutional Asset Management businesses in Japan.

“Ed has done a superb job as the head of our international businesses. He led the businesses during a period of tremendous growth in Japan and is the chief architect of our recent expansion into new international markets. Throughout his career, he has provided remarkable insight, and we thank and applaud him for his many contributions and dedicated service,” Strangfeld said.

Taking over the top international post will be Charles F. Lowrey, who for the past three years has served as executive vice president and chief operating officer of Prudential’s U.S.-based businesses, which are comprised of Prudential Investment Management, Prudential Retirement, Prudential Annuities, Individual Life Insurance and Group Insurance. Together, these businesses had approximately $1 trillion in assets under management as of December 31, 2013.

Before his current role, Lowrey was president and CEO of Prudential Investment Management, Prudential Financial’s asset management business. Previously, he was CEO of Prudential Real Estate Investors. He joined the company in March 2001 and earned an MBA from Harvard University, an M.A. in architecture from Yale University and an A.B. in architecture from Princeton University.

“Under Charlie’s leadership, our U.S. Businesses have increased earnings over the last three years by 50 percent,” Strangfeld said. “He is a champion of collaboration, diversity and talent management, with a particular focus on developing strong leaders.”

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