Andrew Sullivan has been promoted to executive vice president and head of U.S. businesses at Prudential Financial, succeeding Stephen Pelletier, the company announced Thursday. In his new job, Mr. Sullivan will report to Charles Lowrey, Prudential's chairman and CEO.
Mr. Sullivan's promotion was one of several executive changes announced following Mr. Pelletier's decision to retire after 27 years with the company. Mr. Pelletier will remain in an advisory role until April 1, according to a Prudential news release.
All of the changes — including Mr. Sullivan's promotion — will take effect Dec. 1, Monique Freeman, a company spokeswoman confirmed in an email.
The other executive changes are:
Phil Waldeck, president of Prudential Retirement, will succeed Mr. Sullivan as head of the Workplace Solutions Group;
Yanela Frias, current head of investment and pension solutions within the retirement business, will become president of Prudential Retirement;
Scott Gaul, senior vice president, sales and strategic relationships, for Prudential Retirement, will succeed Ms. Frias; and
Dylan Tyson. CEO of Prudential of Taiwan will become president of Prudential Annuities, replacing Kent Sluyter, who will retire after 38 years at Prudential. The successor to Mr. Tyson in Taiwan "will be named upon receiving regulatory approval," the news release said.
