Ellen Cooper to be appointed President and
CEO following 2022 Annual Meeting
Dennis Glass to transition to Board
Chair
Lincoln Financial Group (NYSE: LNC) today announced that Dennis
R. Glass, president and CEO, will transition roles following the
2022 Annual Meeting of Shareholders planned for next May, becoming
the chairman of the board. Ellen G. Cooper, currently executive
vice president, chief investment officer, head of Enterprise Risk
and the Annuity Solutions group, will succeed Glass as president
and CEO following the 2022 Annual Meeting. Cooper will also join
the board at that time. Additionally, William H. Cunningham will
become the lead independent director upon Glass becoming the board
chair.
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Lincoln Financial Group announces
executive leadership succession: Ellen Cooper (pictured) to be
appointed president and CEO following 2022 Annual Meeting. At that
time, current president and CEO Dennis Glass will transition to
board chair. (Photo: Business Wire)
“The board has engaged in thoughtful long-term succession
planning, and today’s announcement demonstrates the strength of
that process as well as our depth of talent at the executive level
to drive the Company’s continued growth and success,” said William
Cunningham, Lincoln’s current board chair. “Ellen is an outstanding
executive who is well-prepared to assume the role of president and
CEO and continue to execute the sound strategy that she has played
an important role in developing.”
Cooper, 56, is a seasoned Lincoln executive with broad and deep
life insurance industry experience. She joined Lincoln in 2012 as
executive vice president and chief investment officer, and
subsequently added the roles of head of Enterprise Risk and more
recently, head of the Annuity Solutions group. During her tenure,
she has been instrumental in developing and executing on the
general and separate account investment strategy, overseeing over
$300 billion in assets and managing the Corporation’s industry
leading hedge program. She has also expanded her leadership role to
include responsibility for Lincoln’s enterprise risk management
function and was recently named head of the Corporation’s
market-leading Annuity Solutions business. In addition to her other
roles, Cooper is a member of the Lincoln Financial Foundation
Board.
Prior to Lincoln, Cooper was with Goldman Sachs Asset
Management, where she served as managing director and global head
of insurance strategy. Earlier in her career, she was the chief
risk officer for AEGON Americas. She also served as a Principal at
Ernst & Young LLP and in an insurance consulting role at Towers
Perrin. She holds a Bachelor of Science in Actuarial Science from
Temple University as well as CERA, CFA and Fellow of the Society of
Actuaries designations.
“I'm humbled, honored, and excited to be asked to serve as the
next president and CEO,” Cooper said. “Lincoln has a strong track
record of delivering solid results supported by a powerful
franchise with world class distribution, superior product
manufacturing and industry-leading risk management. I want to thank
Dennis for his mentorship, his vision, his optimism and his
conviction to our leadership team, his genuine care and respect for
our employees and his unwavering commitment to the partners and
customers we serve. I also want to express my gratitude to my
colleagues on the executive leadership team for their support and
collaboration and to the highly talented, passionate employees who
drive our success and execution. I look forward to leading this
organization as we continue our long history of providing Americans
products to help them plan, protect and invest to secure their
financial future.”
Cunningham added, “Dennis has been an outstanding CEO for
Lincoln for nearly 15 years. He has attracted and developed an
excellent group of executives to lead the company forward. We are
delighted he is willing to serve as the board's chairman.”
“It has been an honor and a privilege to serve as president and
CEO of Lincoln National Corporation and I look forward to my new
role as board chair,” Glass said. “I am extremely proud of the
culture of inclusivity, optimism and execution that we have built
at Lincoln that continues to attract a diverse pool of
extraordinary talent to our organization. I am thrilled that Ellen
will succeed me as president and CEO. She is a gifted, experienced
executive with a proven track record of success. Working closely
with the executive leadership team, we will begin to develop the
transition plans immediately. We will be guided by our past
successes as we look to build on our strategy with a strong
executive team to lead us forward.”
Glass added, “On behalf of the entire board, I want to thank
Bill Cunningham for his leadership as board chair. We are pleased
that we will continue to benefit from his guidance and perspective
in his new role as lead independent director.”
Serving as president and CEO since 2007, Glass, 71, served
Lincoln and Jefferson Pilot for 28 years. Prior to taking on the
CEO role, Glass served as president and chief operating officer. A
40-year veteran of the insurance industry, Glass started with
Jefferson Pilot in 1993 as executive vice president, chief
financial officer and treasurer, then president and chief operating
officer, before being promoted to president and CEO in March 2004,
when he also joined the Jefferson Pilot board. Prior to joining
Jefferson Pilot, Glass was executive vice president and CFO of
Protective Life Corporation. Glass serves on the board and has been
past president of the American Council of Life Insurers and serves
as chair of board for the Alliance for Lifetime Income.
As President and CEO, Glass has led Lincoln through several
major initiatives, including the merger with Jefferson Pilot,
improving the financial strength of Lincoln, the acquisition of the
Liberty Mutual Group Benefits business, an ongoing digital
transformation, the expansion of Lincoln’s world-class distribution
organization and the introduction of several cutting-edge product
innovations that help Americans build financial security now and
for the future. Additionally, he led Lincoln through some of the
industry’s most challenging environments, including the 2008
financial crisis and the ongoing COVID-19 pandemic. Most recently,
Glass led the company as it delivered record earnings results in
the second quarter of 2021.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help
people take charge of their financial lives with confidence and
optimism. Today, more than 17 million customers trust our
retirement, insurance and wealth protection expertise to help
address their lifestyle, savings and income goals, and guard
against long-term care expenses. Headquartered in Radnor,
Pennsylvania, Lincoln Financial Group is the marketing name for
Lincoln National Corporation (NYSE:LNC) and its affiliates. The
company had $324 billion in end-of-period account values as of June
30, 2021. Lincoln Financial Group is a committed corporate citizen
included on major sustainability indices including the Dow Jones
Sustainability Index North America and FTSE4Good. Dedicated to
diversity and inclusion, we earned perfect 100 percent scores on
the Corporate Equality Index and the Disability Equality Index, and
rank among Forbes’ Best Large Employers and Best Employers for
Women, and Newsweek’s Most Responsible Companies. Learn more at:
www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn,
and Instagram. Sign up for email alerts at
http://newsroom.lfg.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210830005320/en/
Al Copersino (203) 257-4493 Investor Relations
InvestorRelations@LFG.com Holly Fair (484) 583-1632 Media Relations
Holly.Fair@LFG.com
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