Prudential Financial names CEO Sullivan as Chairman
Prudential Financial, Inc. announced a major leadership change, with Executive Chairman and director Charles F. Lowrey resigning from the board effective immediately on March 10, 2026.
Rhea-AI Filing Summary
Prudential Financial, Inc. announced a major leadership change, with Executive Chairman and director Charles F. Lowrey resigning from the board effective immediately on March 10, 2026. He will remain as Senior Advisor until his planned retirement at the end of the second quarter of 2026.
The Board appointed Andrew F. Sullivan, currently President and Chief Executive Officer, to the additional role of Chairman of the Board, effective March 10, 2026. The company highlights Lowrey’s 25 years of service and notes Prudential manages approximately $1.6 trillion in assets under management as of December 31, 2025.
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Insights
Planned board leadership transition consolidates Prudential’s CEO and chairman roles.
Prudential Financial is transitioning from an Executive Chairman model to combining the Chairman and CEO roles. Charles Lowrey resigns as Executive Chairman and director but stays on as Senior Advisor until his retirement after the second quarter of 2026, suggesting an orderly handoff.
Andrew Sullivan, already CEO, becomes Chairman effective March 10, 2026, centralizing leadership. The board retains a Lead Independent Director, which can help preserve independent oversight. With approximately $1.6 trillion in assets under management as of December 31, 2025, governance stability remains important for stakeholders.
8-K Event Classification
FAQ
What leadership change did Prudential Financial (PFH) announce on March 10, 2026?
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What roles does Andrew Sullivan now hold at Prudential Financial (PFH)?
How long did Charles Lowrey serve at Prudential Financial (PFH)?
How large is Prudential Financial’s business as of December 31, 2025?
What document accompanied Prudential Financial’s March 10, 2026 leadership announcement?
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 10, 2026, Charles F. Lowrey, Executive Chairman of Prudential Financial, Inc. (the “Company”), notified the Company’s Board of Directors (the “Board”) of his resignation as Executive Chairman of the Board and as a director, effective immediately. Mr. Lowrey will remain with the Company in the role of Senior Advisor until he retires from the Company at the end of the second quarter of 2026. Following Mr. Lowrey’s resignation as Executive Chairman, the Board appointed Andrew F. Sullivan, the Company’s President and Chief Executive Officer and a director, as the Chairman of the Board.
| Item 7.01 | Regulation FD Disclosure. |
The Company is furnishing herewith a news release, dated March 10, 2026, announcing the leadership change discussed herein.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit No. |
Description | |
| 99.1 | News release of Prudential Financial, Inc. dated March 10, 2026 (furnished and not filed). | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: March 10, 2026
| PRUDENTIAL FINANCIAL, INC. | ||
| By: | /s/ Brian P. Spitser | |
| Name: | Brian P. Spitser | |
| Title: | Vice President and Assistant Secretary | |
Exhibit 99.1
Prudential Financial Board of Directors Appoints Chief Executive Officer Andrew Sullivan as Chairman
NEWARK, N.J., March 10, 2026 – (BUSINESS WIRE) – Prudential Financial, Inc. (NYSE: PRU) announced today that its Board of Directors has appointed Andrew Sullivan, currently serving as Chief Executive Officer, to the additional role of Chairman of the Board, effective March 10, 2026.
Sullivan succeeds Charles Lowrey, who resigned as Executive Chairman and director on March 10. Lowrey will remain with the company as a senior advisor through the end of the second quarter, when he will retire from Prudential. During his 25 years of distinguished service to Prudential, Lowrey served as Executive Chairman beginning in 2025, Chief Executive Officer from 2018 to 2025, and Chairman from 2019 to 2025.
“I’m honored that the Board has asked me to take on the additional role of Chairman,” said Sullivan, “It’s a privilege to lead the company at this pivotal moment. I have strong conviction in our strategy and the progress we’re making as we continue to execute with discipline and deliver long-term value for our customers and shareholders. On behalf of our Board and the entire company, I would like to thank Charlie for his leadership and significant contributions to Prudential.”
As Chairman and CEO, Lowrey established a foundation for the company’s next phase of growth, presiding over a series of growth investments, derisking transactions and organizational changes to strengthen the company’s competitive position in the marketplace. Lowrey also led Prudential through the COVID-19 pandemic, where he oversaw multiple initiatives to support Prudential employees, customers, and the communities in which Prudential operates.
Reflecting on his career, Lowrey said, “It has been an honor to serve Prudential for the past 25 years. I’m proud of what we’ve built together and grateful to our employees, Board, partners, and shareholders. Andy is a proven leader, and I have great confidence in him and the broader leadership team as Prudential enters its next chapter.”
“On behalf of the Board, I want to thank Charlie for his long and distinguished service to Prudential,” said Michael A. Todman, Prudential’s Lead Independent Director. “I look forward to continuing to work closely with Andy and the Board on areas of governance and stakeholder engagement, supporting strong alignment and continuity as Andy leads the company forward. His deep experience and knowledge of our business put him in a strong position to steer Prudential’s growth.”
About Prudential Financial
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of December 31, 2025, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential’s iconic Rock symbol has stood for strength, stability, expertise, and innovation for 150 years. For more information, please visit news.prudential.com.
Prudential Media Contact: Emily Blum; emily.blum@prudential.com
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