Prudential Succession Planning | Prudential Financial

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The Corporate Governance and Business Ethics Committee screens and recommends candidates for nomination by the full Board. The Company’s By-laws provide that the size of the Board may range from 10 to 15 members, reflecting the Board’s current view of its optimal size. The Committee is assisted with its recruitment efforts by an independent third party search firm, which recommends candidates that satisfy the Board’s criteria. The search firm also provides research and pertinent information regarding candidates, as requested.

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Description of Process for Selecting Directors

This image explains the process of selecting directors to the board. At first, Source candidate pool taken from Independent Search firms, Shareholders, Independent Directors and our people. The committee will conduct a In-Depth Review such as Consider skills Matrix, Screen Qualifications, Consider diversity including diverse viewpoints, Review independence and potential conflicts and Meet with directors. Appointment to our board will recommend selected candidate and review them by full board. Then they will select directors among them. There are 6 new directors elected since 2015.

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The Board is actively engaged and involved in talent management. The Board reviews the Company’s “people strategy” in support of its business strategy at least annually and frequently discusses talent issues at its meetings. This includes a detailed discussion of the Company’s global leadership bench and succession plans with a focus on key positions at the senior officer level. As a result of this approach, the Board was well-positioned to execute on its recent succession plan, including the appointment of Mr. Lowrey as CEO and Chairman and Mr. Falzon as Vice Chairman.

In addition, the committees of the Board regularly discuss the talent pipeline for specific critical roles. High-potential leaders are given exposure and visibility to Board members through formal presentations and informal events. More broadly, the Board is regularly updated on key talent indicators for the overall workforce, including diversity, recruiting and development programs.

*SOURCE: PRUDENTIAL FINANCIAL, INC. 2020 PROXY STATEMENT

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Assurance IQ, LLC a wholly-owned subsidiary of Prudential Financial, Inc. matches buyers with products such as life and health insurance and auto insurance, enabling them to make purchases online or through an agent. Neither Prudential Financial, Inc. nor Assurance IQ offers, underwrites, or administers health plans or health insurance policies.

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Process for Selecting Directors

Process for Selecting Directors

Succession Planning

Succession Planning

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