01—Abstract
Summary
Summary of the 8-K filed March 10, 2026. Cited figures are marked; the original filing is the authoritative source.
Prudential Financial, Inc. (NYSE: PRU) announced on March 10, 2026 a leadership change at the top of its Board.
Charles F. Lowrey resigned as Executive Chairman and as a director, effective immediately. He will remain with the company as Senior Advisor until he retires at the end of the second quarter of 2026.
Following his resignation, the Board appointed Andrew F. Sullivan, the company's President and Chief Executive Officer and a director, as Chairman of the Board. The filing states that Lowrey served as Executive Chairman beginning in 2025, Chief Executive Officer from 2018 to 2025, and Chairman from 2019 to 2025, and credits him with establishing a foundation for the company's next phase of growth through growth investments, derisking transactions and organizational changes.
Sullivan, in the accompanying news release, said he has strong conviction in the company's strategy and its progress. Michael A. Todman, Lead Independent Director, said he will continue working with Sullivan and the Board on governance and stakeholder engagement, which he said supports continuity.
The filing is primarily a governance update. It furnishes a news release (Exhibit 99.1) under Regulation FD and does not include new financial results. The release notes that Prudential had approximately $1.6 trilliona in assets under management as of December 31, 2025.
02—Key points
Key Highlights
- Charles F. Lowrey resigned as Executive Chairman and director, effective March 10, 2026
- Lowrey remains as Senior Advisor until retiring at the end of Q2 2026
- Andrew F. Sullivan, President and CEO, was appointed Chairman of the Board, combining the Chairman and CEO roles
- Lowrey served as Executive Chairman from 2025, CEO from 2018 to 2025, and Chairman from 2019 to 2025
- Michael A. Todman, Lead Independent Director, cited continuity and governance alignment
- Prudential reported approximately $1.6 trillion in assets under management as of December 31, 2025
- The news release is furnished under Item 7.01 (Regulation FD) and not filed
03—Questions
Frequently Asked Questions
Who is leading Prudential Financial after this change?
Andrew F. Sullivan, who remains President and Chief Executive Officer, was appointed Chairman of the Board, effective March 10, 2026. He now holds both the Chairman and CEO roles.
Is Charles Lowrey leaving Prudential completely?
Not immediately. Lowrey will remain with the company as Senior Advisor until he retires at the end of the second quarter of 2026.
Why did Lowrey step down?
The filing does not state a reason for Lowrey's resignation. It says only that he notified the Board of his resignation as Executive Chairman and as a director, effective immediately.
Does this announcement include new financial results or guidance?
No. The filing is a governance update. Its only exhibit is a news release furnished under Regulation FD announcing the leadership change, and it does not contain new financial results or guidance.
What did Lowrey accomplish during his tenure?
According to the news release, Lowrey presided over growth investments, derisking transactions and organizational changes intended to strengthen the company's competitive position, and led the company through the COVID-19 pandemic, including initiatives supporting employees, customers and communities.
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