Pru continues succession planning, promoting 2 to EVP

By Eric Strauss
Newark | Sep 19, 2018 at 10:30 am

Prudential Financial Inc., which announced the upcoming retirement of Chairman and CEO John Strangfeld earlier this month, is making further executive changes as part of its succession plan, it said Wednesday.

Charles Lowrey is taking over as Prudential CEO in December.

In the initial announcement, Newark-based Prudential said Charles Lowrey, executive vice president and chief operating officer for the International Businesses of Prudential, would succeed Strangfeld, while Robert Falzon, Pru’s EVP and chief financial officer, would replace Vice Chairman Mark Grier, who is also retiring.

On Thursday, the company said Scott Sleyster, who has been a senior vice president and Pru’s chief investment officer, will succeed Lowrey as EVP and COO of International Businesses of Prudential. In addition, Ken Tanji, a Pru SVP and its treasurer, will replace Falzon as EVP and CFO.

“Scott and Ken bring an important mix of investing, finance and market acumen, as well as global perspective, to the executive leadership team,” Lowrey said in a prepared statement.

Sleyster has been SVP and CIO since 2012 and has been with the company for 31 years overall. Tanji has been SVP and treasurer since 2013 and has been with the company for 30 years.

“The next phase of leadership appointments underscores the depth and strength of our talent, as well as the thoughtful approach we are taking to succession,” Grier said in a statement.

Sleyster will report to Lowrey, while Tanji will report to Falzon.

In addition, Timothy Schmidt, Pru’s head of Global Portfolio Management, will succeed Sleyster as chief investment officer, reporting to Falzon. And Nandini Mongia, CFO of Prudential Retirement, will become company treasurer, replacing and reporting to Tanji.

All of the changes will be effective Dec. 1, Pru said.

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Eric Strauss | estrauss@roi-nj.com | acerimrat