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Board Leadership

Board Leadership

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Board Leadership Biographies

Chairman and Chief Executive Officer, Prudential Financial, Inc.

Charles F. Lowrey is Chairman and CEO of Prudential Financial, Inc. Prior to assuming his current roles, Lowrey served as executive vice president and chief operating officer of Prudential’s International businesses. Previously, he was executive vice president and chief operating officer of Prudential’s U.S. businesses. Lowrey also served as president and CEO of PGIM, Prudential’s global investment management business, and earlier as CEO of its real estate investment business, PGIM Real Estate.

Before joining Prudential in 2001, Lowrey was a managing director and head of the Americas for J.P. Morgan’s Real Estate and Lodging Investment Banking group, where he began his investment banking career in 1988. Earlier, Lowrey spent four years as a managing partner of an architecture firm he founded in New York City. During this time, he became a registered New York architect.

Lowrey received an MBA from Harvard University, a master’s degree in architecture from Yale University and a bachelor’s degree in architecture from Princeton University.

Vice Chairman, Prudential Financial, Inc.

Mark B. Grier, vice chairman of Prudential Financial, Inc. (NYSE: PRU), is a member of the firm’s Office of the Chairman and of its board of directors.

He oversees the Finance, Risk Management, Chief Investment, Corporate Actuarial, Global Business and Technology Solutions, Corporate Social Responsibility, and Global Marketing and Communications functions. In addition, Grier leads Global Strategic Initiatives, which oversees Prudential’s international retirement and China strategies.

Grier joined Prudential as chief financial officer in May 1995, and in 2002 he was named vice chairman, following the company’s initial public offering in December 2001.

Before joining Prudential, Grier was co-head of Chase Global Markets and an Executive Vice President of The Chase Manhattan Bank, N.A. Prior to that, he was Senior Vice President of Lincoln First Bank, N.A., a forerunner of Chase Lincoln First Bank, N.A. Grier began his career at Lincoln First in 1978 as an economic analyst.

He has a bachelor’s degree and a master’s degree in economics from Eastern Illinois University, and an MBA in finance and corporate accounting from The University of Rochester.

Chairman, President and Chief Executive Officer, Park Hotels & Resorts, Inc.

Mr. Baltimore has been the Chairman, President and CEO of Park Hotels & Resorts, Inc. (a NYSE-listed lodging real estate investment trust) since January 2017. Between May 2016 and January 2017, Mr. Baltimore was the President and CEO of the planned Hilton Real Estate Investment Trust. Previously, he was President and CEO of RLJ Lodging Trust (a NYSE-listed real estate investment company) from May 2011 to May 2016. He served as Co-Founder and President of RLJ Development, LLC (RLJ Lodging’s predecessor company) from 2000 to May 2011. He served as VP, Gaming Acquisitions, of Hilton Hotels Corporation from 1997 to 1998 and later as VP, Development and Finance, from 1999 to 2000. He also served in various management positions with Host Marriott Services, including VP, Business Development, from 1994 to 1996. Mr. Baltimore currently serves on the boards of AutoNation, Inc. and Park Hotels & Resorts, Inc.

Former Chairman, OMNITRU

Mr. Casellas served as the Chairman of OMNITRU (a consulting and investment firm) from 2011 to 2017. He was the VP, Corporate Responsibility, of Dell Inc. (a global computer manufacturer) from 2007 to 2010. He served as a Member of Mintz Levin Cohn Ferris Glovsky & Popeo, PC from June 2005 to October 2007. He served as President of Casellas & Associates, LLC (a consulting firm) from 2001 to 2005. During 2001, he served as President and CEO of Q-linx, Inc. and served as the President and COO of The Swarthmore Group, Inc. from January 1999 to December 2000. Mr. Casellas served as Chairman, U.S. EEOC from 1994 to 1998 and General Counsel, U.S. Department of the Air Force, from 1993 to 1994.

Former Chief Financial Officer, MasterCard Worldwide

Ms. Hund-Mejean served as the CFO and a member of the Executive Committee at MasterCard Worldwide (a global transaction processing and consulting services company) from 2007 to 2019. Ms. Hund-Mejean served as Senior Vice President (SVP) and Corporate Treasurer at Tyco International Ltd. from 2003 to 2007; SVP and Treasurer at Lucent Technologies from 2000 to 2002; and held management positions at General Motors Company from 1988 to 2000. Ms. Hund-Mejean began her career as a credit analyst at Dow Chemical in Frankfurt, Germany.

Former President and Chief Operating Officer, United Technologies Corporation

Mr. Krapek served as the President and COO of United Technologies Corporation (UTC) from 1999 until his retirement in January 2002. Prior to that time, Mr. Krapek held other management positions at UTC, which he joined in 1982. Mr. Krapek is also the co-founder of The Keystone Companies, which was founded in 2002 and develops residential and commercial real estate. Mr. Krapek currently serves on the boards of Northrop Grumman Corporation and Pensare Acquisitions Corporation.

Former Vice Chairman of J.P. Morgan Corporate Bank and Founding Chairman of J.P. Morgan Chase Bank, China

Mr. Lighte served as the Vice Chairman, J.P. Morgan Corporate Bank, China (a global financial services company), from 2010 to 2014, and the founding Chairman of J.P. Morgan Chase Bank China, from 2007 to 2010. Prior to that, he headed the Company’s International Client Coverage for Treasury and Securities Services in J.P. Morgan’s European Global Operating Services Division and was instrumental in re-establishing its corporate bank in London. Mr. Lighte previously served as the President of Chase Trust Bank in Tokyo from 2000 to 2002. He was also the founding representative in Beijing of Manufacturers Hanover Trust Company. Mr. Lighte has also taught at several academic institutions, including Middlebury College and the University of Santa Clara.

Former Chairman and Chief Executive Officer, Express Scripts Holding Company

Mr. Paz was Non-Executive Chairman of Express Scripts Holding Company (Express Scripts), a prescription benefit management company, from May 2016 to December 2018 and served as the Chairman and CEO of Express Scripts from May 2006 to May 2016 after being appointed CEO in April 2005. Mr. Paz also served as the President of Express Scripts from October 2003 to February 2014 and as a director from January 2004 to December 2018. He joined Express Scripts in 1998 as SVP and CFO. Prior to joining Express Scripts, Mr. Paz was a partner at Coopers & Lybrand from 1988 to 1993 and 1996 to 1998 and served as Executive Vice President and CFO for Life Partners Group from 1993 to 1995. Mr. Paz currently serves on the board of Honeywell International, Inc.

Former President and CEO, Federal Reserve Bank of Cleveland

Ms. Pianalto served as the President and CEO of the Federal Reserve Bank of Cleveland (the Cleveland Fed) from February 2003 until her retirement in May 2014. She was the First Vice President and COO of the Cleveland Fed from 1993 to 2003 and served as its VP and Secretary to the Board of Directors from 1988 to 1993. Ms. Pianalto also served in various supervisory roles at the Cleveland Fed from 1983 to 1988. Prior to joining the Cleveland Fed, Ms. Pianalto was an economist at the Board of Governors of the Federal Reserve System and served on the staff of the Budget Committee of the US House of Representatives. Ms. Pianalto currently serves on the boards of Eaton Corporation plc, FirstEnergy Corp., and The J.M. Smucker Company.

Executive in Residence, The Max M. Fisher College of Business at The Ohio State University

Ms. Poon has served as Executive in Residence at the Max M. Fisher College of Business at The Ohio State University since September 2015 and served as Professor of Management and Human Resources at The Max M. Fisher College of Business from October 2014 to September 2015. Ms. Poon previously served as Dean and John W. Berry, Sr. Chair in Business at The Max M. Fisher College of Business at The Ohio State University from April 2009 until October 2014. She served as Vice Chairman and a member of the Board of Directors of Johnson & Johnson from 2005 until her retirement in March 2009. Ms. Poon joined Johnson & Johnson in 2000 as Company Group Chair in the Pharmaceuticals Group. She became a Member of Johnson & Johnson’s Executive Committee and Worldwide Chair, Pharmaceuticals Group, in 2001, and served as Worldwide Chair, Medicines and Nutritionals, from 2003 to 2005. Prior to joining Johnson & Johnson, she served in various management positions at Bristol-Myers Squibb for 15 years. Ms. Poon currently serves on the boards of Koninklijke Philips NV, Regeneron Pharmaceuticals and The Sherwin-Williams Company.

Founder and Managing Member, Comprehensive Financial Strategies, LLC

Mr. Scovanner has been the Founder and Managing Member of Comprehensive Financial Strategies, LLC, a management consulting firm, since October 2013. Previously, he served as the Chief Financial Officer (1994 to 2012) and Executive Vice President (2000 to 2012) of the Target Corporation (a North American retailer). Prior to joining the Target Corporation, Mr. Scovanner held various management positions at The Fleming Companies, Inc., Coca-Cola Enterprises, Inc., The Coca-Cola Company and the Ford Motor Company from 1979 to 1994.

Former Vice Chairman, Whirlpool Corporation

Mr. Todman served as Vice Chairman of the Whirlpool Corporation (Whirlpool), a global manufacturer of home appliances, from November 2014 to December 2015. Mr. Todman previously served as President of Whirlpool International from 2006 to 2007 and 2010 to 2014, as well as President, Whirlpool North America, from 2007 to 2010. Mr. Todman held several senior positions including Executive Vice President and President of Whirlpool Europe from 2001 to 2005 and Executive Vice President, Whirlpool North America, in 2001. Mr. Todman currently serves on the boards of Brown-Forman Corporation and Newell Brands.

Board Diversity

Diversity is an integral part of our Corporate Governance Principles, and the Committee actively considers diversity in recruitment and nominations of directors. The current composition of our Board reflects those efforts and the importance of diversity to the Board:

  • Three directors have worked outside the United States;
  • Two directors are African-American;
  • One director is Asian-American;
  • Two directors are Hispanic;
  • Three directors are women; and
  • One director is LGBT.

 

Letter from the Board of Directors to Our Shareholders

Beginning with the 2010 Proxy Statement, the Board established a new precedent in Board and shareholder communication. In a sincere, open, and honest Letter to Shareholders, the Board sets out its governance philosophy and describes how it is positioning Prudential for strong long-term performance. The letter encourages shareholders to share opinions, interests, and concerns as a valuable way to support the Board in its stewardship of the Company.

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Director Qualifications and Experience

Prudential Financial is a financial services company that offers a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds, and investment management. As such, the Corporate Governance and Business Ethics Committee of the Board evaluates current and potential directors based on the Board's Director Qualification Standards for independence, as well as how an individual director's depth and breadth of experience can add value to the collective range of Board expertise.

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Summary of Director Qualifications and Experience

Qualifications and Experience

Director

ACADEMIA/EDUCATION experience is important because it brings perspective regarding organizational management and academic research relevant to our business and strategy

  • Lighte Peter R.
  • Pianalto Sandra
  • Poon Christine A..

BUSINESS ETHICS experience is important given the critical role that ethics plays in the success of our businesses.

  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Lowrey Charles F..

BUSINESS HEAD/ADMINISTRATION experience is important since directors with administration experience typically possess strong leadership qualities and the ability to identify and develop those qualities in others.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

BUSINESS OPERATIONS experience gives directors a practical understanding of developing, implementing and assessing our operating plan and business strategy.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

CORPORATE GOVERNANCE experience supports our goals of strong Board and management accountability, transparency and protection of shareholder interests.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

ENVIRONMENTAL/SUSTAINABILITY/CORPORATE RESPONSIBILITY experience strengthens the Board’s oversight and assures that strategic business imperatives and long-term value creation for shareholders are achieved within a responsible, sustainable business model.

  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Krapek Karl J.

FINANCE/CAPITAL ALLOCATION experience is important in evaluating our financial statements and capital structure.

  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

FINANCIAL EXPERTISE/LITERACY is important because it assists our directors in understanding and overseeing our financial reporting and internal controls.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

FINANCIAL SERVICES INDUSTRY experience is important in understanding and reviewing our business and strategy.

  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.

GOVERNMENT/PUBLIC POLICY experience is relevant to the Company as it operates in a heavily regulated industry that is directly affected by governmental actions.

  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Lighte Peter R.
  • Paz George
  • Pianalto Sandra
  • Todman Michael A.

INSURANCE INDUSTRY experience is important in understanding and reviewing our business and strategy.

  • Falzon Robert M.
  • Grier Mark B.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George

INTERNATIONAL experience is important in understanding and reviewing our business and strategy.

  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Poon Christine A.
  • Todman Michael A.

INVESTMENTS experience is important in evaluating our financial statements and investment strategy.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Hund-Mejean Martina
  • Lighte Peter R.
  • Lowrey Charles F.
  • Poon Christine A.
  • Scovanner Douglas A.

MARKETING/SALES experience is relevant to the Company as it seeks to identify and develop new markets for its financial products and services.

  • Poon Christine A.
  • Todman Michael A.

REAL ESTATE experience is important in understanding and reviewing our business and strategy.

  • Baltimore Thomas J. Jr.
  • Falzon Robert M.
  • Krapek Karl J..
  • Lowrey Charles F.
  • Scovanner Douglas A.

RISK MANAGEMENT experience is critical to the Board’s role in overseeing the risks facing the Company.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

TALENT MANAGEMENT experience is valuable in helping us attract, motivate and retain top candidates for positions at the Company.

  • Baltimore Thomas J. Jr.
  • Casellas Gilbert F.
  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Lighte Peter R.
  • Lowrey Charles F.
  • Paz George
  • Pianalto Sandra
  • Poon Christine A.
  • Scovanner Douglas A.
  • Todman Michael A.

TECHNOLOGY/SYSTEMS experience is relevant to the Company as it looks for ways to enhance the customer experience and internal operations.

  • Falzon Robert M.
  • Grier Mark B.
  • Hund-Mejean Martina
  • Krapek Karl J.
  • Paz George

*SOURCE: PRUDENTIAL FINANCIAL, INC. 2019 PROXY STATEMENT

 

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