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NEWARK, N.J.--(BUSINESS WIRE)--Dec 3, 2024-- Prudential Financial, Inc. ( NYSE: PRU ) today announced that the Board of Directors has appointed Andrew Sullivan as its next CEO, effective March 31, 2025. Sullivan, who currently serves as executive vice president and head of International Businesses and Global Investment Management, will succeed Charles F. Lowrey. Lowrey will remain as Executive Chairman of the Board for 18 months, working with the Board and supporting and advising Sullivan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241203419178/en/ Charles F. Lowrey will step down as CEO of Prudential Financial on March 31, 2025 and will remain as Executive Chairman of the Board for 18 months. (Photo: Business Wire) As part of Prudential’s executive leadership team, Sullivan has played an important role in driving the company’s strategy. He currently oversees both the company’s International Insurance segment and PGIM, the firm’s $1.4 trillion global investment management business. Since joining the company in 2011, he has held successive leadership positions, including heading all of the firm’s U.S.-based businesses. “Andy is an exceptional leader who brings a deep understanding of our businesses, our strategy, our people, and our customers to this role, and I have every confidence that he is the right leader to take Prudential into the future,” said Lowrey. “As we approach the 150th anniversary of Prudential’s founding, now is the right time to elevate the next generation of leadership, and I look forward to continuing to support Andy in my role as Executive Chairman.” “I am honored to have the opportunity to lead this company as it embarks on its next chapter,” said Sullivan. “I would like to thank Charlie and the Board of Directors for their confidence and trust in me. Under Charlie’s leadership, Prudential has made substantial progress towards becoming a higher growth, more capital-efficient company, refined its business mix, invested in technology, and innovated new products. I look forward to working with Prudential’s leadership team and employees to advance our strategy and expand Prudential’s position as a leader in investing, insurance, and retirement security,” said Sullivan. Having successfully led Prudential’s U.S. Businesses since 2021, Caroline Feeney will expand her role to become Global Head of Insurance and Retirement, a newly created position overseeing Prudential’s market-leading domestic and international insurance and retirement businesses, effective March 31, 2025. Feeney and incoming head of PGIM Jacques Chappuis will both report to Sullivan in his role as CEO. “We see significant synergies across our U.S. and international insurance and retirement businesses, and bringing these capabilities together in one global division under Caroline’s leadership will create additional opportunities for collaboration and growth. I want to congratulate her on this expanded role,” said Sullivan. The Board also announced that Vice Chair Robert Falzon will step down from the Board, effective March 31, 2025, and retire from Prudential, effective July 11, 2025. Falzon’s 42-year career with Prudential has seen him serve as executive vice president and CFO of Prudential, as well as company treasurer and managing director of PGIM Real Estate, head of PGIM’s Global Merchant Banking and Global Real Estate Securities groups and CEO of its European business. “On behalf of the Board, I would like to thank Charlie for his leadership and continued commitment to Prudential,” said Michael A. Todman, Prudential’s Lead Independent Director. “Among many other achievements, Charlie was the principal architect of a complex strategic transformation that has positioned Prudential to be a nimble, dynamic, and high-growth company for years to come. After thoroughly considering a diverse array of candidates for the CEO role, the Board is confident that Andy is the right leader to continue this progress. I also want to thank Rob for his leadership and his many contributions to Prudential and wish him well in his retirement.” ABOUT PRUDENTIAL Prudential Financial, Inc. ( NYSE: PRU ), a global financial services leader and premier active global investment manager with approximately $1.6 trillion in assets under management as of Sept. 30, 2024, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees help make lives better and create financial opportunity for more people by expanding access to investing, insurance, and retirement security. Prudential's iconic Rock symbol has stood for strength, stability, expertise, and innovation for nearly 150 years. For more information, please visit news.prudential.com . View source version on businesswire.com : https://www.businesswire.com/news/home/20241203419178/en/ CONTACT: Media Bill Launder Head of Corporate Communications bill.launder@prudential.com KEYWORD: UNITED STATES NORTH AMERICA NEW JERSEY INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE FINANCE SOURCE: Prudential Financial, Inc. Copyright Business Wire 2024. PUB: 12/03/2024 04:30 PM/DISC: 12/03/2024 04:28 PM http://www.businesswire.com/news/home/20241203419178/en
A fugitive gains fame in New Orleans eluding dart guns and nets NEW ORLEANS (AP) — For months, a fugitive dog known as Scrim has transfixed the city of New Orleans. The 17-pound mutt has gained fame eluding a tenacious band of citizens wielding a tranquilizer dart gun and night vision binoculars. He's already escaped two homes. Now his sightings are plotted on a crowd-sourced Google map. Animal rescuers hope to capture the renegade pooch and put him in a place that's safe and secure. But there's a backlash, fueled by the now-viral video of Scrim leaping out a two-story window, under the hashtag #FreeScrim, as some think the dog should be able to roam free. Joe Burrow's home broken into during Monday Night Football in latest pro-athlete home invasion ANDERSON TOWNSHIP, Ohio (AP) — Bengals quarterback Joe Burrow’s home was broken into during Monday Night Football in the latest home invasion of a pro athlete in the U.S. Authorities said Tuesday no one was injured in the break-in, but the home was ransacked. Deputies weren’t immediately able to determine what items were stolen. Both the NFL and NBA issued alerts to players following prior break-ins, urging them to take precautions. The homes of Chiefs stars Patrick Mahomes and Travis Kelce were broken into in October. In the NBA, Milwaukee Bucks forward Bobby Portis and Minnesota Timberwolves guard Mike Conley Jr. had their homes broken into. McConnell falls and sprains wrist after GOP luncheon, colleague says he is 'fine' WASHINGTON (AP) — Senate Republican leader Mitch McConnell fell and sprained his wrist while walking out of a GOP luncheon on Tuesday, the latest in a series of medical incidents for him in recent years. That's according to a senator who was with him when it happened. Wyoming Sen. John Barrasso, the No. 3 Senate Republican and a doctor, said McConnell walked back to his office after the fall with no assistance and had “a small scratch.” Medical staff were seen taking a wheelchair into McConnell’s office just before a scheduled weekly news conference. McConnell, who is stepping down from his leadership post at the end of the year, did not attend the news conference. Who is Tony Buzbee, the lawyer suing Jay-Z as part of civil cases against Sean 'Diddy' Combs? HOUSTON (AP) — High-profile legal battles are nothing new for Texas attorney Tony Buzbee. His latest is a lawsuit he’s filed against rapper Jay-Z. Buzbee is accusing the iconic rapper as well as Sean “Diddy” Combs of sexually assaulting a minor at an awards show after-party in 2000. The lawsuit against Jay-Z is part of multiple civil cases Buzbee has filed on behalf of more than 150 people who allege sexual abuse and exploitation at the hands of Combs, who denies the claims. In his legal career, Buzbee has represented a variety of clients, including victims of sexual assault and well-known politicians. His critics say he’s full of bluster and bombast. Buzbee's firm says he's worked to “pursue justice against powerful figures.” OpenAI releases AI video generator Sora but limits how it depicts people SAN FRANCISCO (AP) — OpenAI has publicly released its new artificial intelligence video generator Sora but won’t let most users depict people as it monitors for patterns of misuse. Users of a premium version of OpenAI’s flagship product ChatGPT can now use Sora to instantly create AI-generated videos based on written commands. Among the highlighted examples are high-quality video clips of sumo-wrestling bears and a cat sipping coffee. But only a small set of invited testers can use Sora to make videos of humans as OpenAI works to “address concerns around misappropriation of likeness and deepfakes,” the company said in a blog post. Soto's record $765 million, 15-year contract with Mets reverberates through Major League Baseball DALLAS (AP) — Juan Soto’s record $765 million, 15-year contract with the New York Mets, the largest and longest deal in baseball history, has reverberated across the winter meetings. It stung the Yankees, who offered $760 million over 16 years to the All-Star outfielder. Soto’s deal sparked even greater expectations in a free agent market that includes pitchers Corbin Burnes and Max Fried, first basemen Pete Alonso and Christian Walker, third baseman Alex Bregman and outfielder Anthony Santander. Many small-market teams have long sought a salary cap but the consensus since the 1994-95 strike has been not to propose a hard limit. Rupert Murdoch’s attempt to change his family’s trust over Fox News media empire control rejected RENO, Nev. (AP) — A sealed document obtained by The New York Times says a Nevada commissioner has ruled against Rupert Murdoch’s effort to change his family’s trust to give his son Lachlan Murdoch control of his media empire and ensure Fox News maintains its conservative editorial slant. The commissioner concluded in a decision filed on Saturday that the two men had acted in “bad faith” in their bid to amend the irrevocable trust. Lachlan Murdoch is the head of Fox News and News Corp. The trust divides control of the company equally among Murdoch’s four oldest children after his death. A lawyer for Rupert Murdoch says he and his son intend to appeal the ruling. Greyhound racing is increasingly rare worldwide. New Zealand now plans to outlaw the practice WELLINGTON, New Zealand (AP) — New Zealand's racing minister says the country will outlaw greyhound racing, citing the injury rates for racing dogs. He says it will be shut down over the next 20 months, allowing time for those it employs to find other work and homes to be found for the 2,900 racing dogs. New Zealand is one of only a handful of countries where commercial greyhound racing is held. The industry body says the government has not recognized the progress it has made in animal welfare. The government passed an urgent law Tuesday barring greyhound owners from killing dogs as the industry winds down. Trustee over Infowars auction asks court to approve The Onion's winning bid A trustee who oversaw the bankruptcy auction of Alex Jones’ Infowars is asking a judge to approve The Onion’s winning bid for the conspiracy-filled platform. Trustee Christopher Murray took the stand Tuesday in the second day of testimony at a hearing where a judge is scrutinizing the satirical news outlet’s winning offer. He told U.S. Bankruptcy Judge Christopher Lopez in Houston that he was there asking a court to approve the sale of Infowars’ parent company to The Onion’s parent company. It is not clear how quickly Lopez will rule. The Onion wants to turn Infowars’ website and social media accounts into parodies. Still rockin': As a singer turns 80, the Christmas song she sang as a teen is a holiday staple NEW YORK (AP) — Brenda Lee's memories of recording “Rockin' Around the Christmas Tree” are a little hazy now. But that's to be expected, since she was 13-years-old when it was made in 1958 and this month is celebrating her 80th birthday. The song has lived a remarkable life, and even unseated Mariah Carey's “All I Want for Christmas is You” at the top of the Billboard charts last year. Experts say the way it evokes a simpler time at the “Christmas party hop” is a key to its success. The song achieves the neat trick of sounding retro without being dated.On paper, Luigi Mangione had it all: wealth, intellect, athleticism, good looks. But the child of a prominent Maryland family may have spurned it all in a spasm of violence, in a killing that has mesmerized Americans. The 26-year-old was arrested Monday and charged with the murder of Brian Thompson, a health insurance chief executive and father of two who was gunned down in Manhattan last week by someone who, evidence suggests, has endured his own debilitating health crises and grew angry with the privatized US medical system. The cold-blooded killing has laid bare the deep frustration many Americans feel toward the country's labyrinthine health care system: while many have condemned the shooting, others have praised Mangione as a hero. It has also prompted considerable interest in how a young engineer with an Ivy League education could have gone off the rails to commit murder. News of his capture at a Pennsylvania McDonald's triggered an explosion of online activity, with Mangione quickly amassing new followers on social media as citizen sleuths and US media tried to understand who he is. As Americans have looked for clues about a political ideology or potential motive, a photo on his X account (formerly Twitter) includes an X-ray of an apparently injured spine. Mangione lived in Hawaii in 2022 and, according to his former roommate R.J. Martin, suffered from back pain, and was hoping to strengthen his back. After a surfing lesson, Mangione was "in bed for about a week" because of the pain, Martin told CNN. Earlier this year, Martin said, Mangione confirmed he'd had back surgery and sent him photos of the X-rays. Police said the suspect carried a hand-written manifesto of grievances in which he slammed America's "most expensive health care system in the world." "He was writing a lot about his disdain for corporate America and in particular the health care industry," New York police chief detective Joseph Kenny told ABC. According to CNN, a document recovered when Mangione was arrested included the phrase "these parasites had it coming." Meanwhile, memes and jokes proliferated, many riffing on his first name and comparing him to the "Mario Bros." video game character Luigi. Many expressed at least partial sympathy, having had their own harrowing experiences with the US health care system. "Godspeed. Please know that we all hear you," wrote one user on Facebook. Mangione hails from the Baltimore area. His wealthy Italian-American family owns local businesses, including the Hayfields Country Club, according to local outlet the Baltimore Banner, and cousin Nino Mangione is a Maryland state delegate. A standout student, Luigi graduated at the top of his high school class in 2016. A former student who knew Mangione at the elite Gilman School told AFP the suspect struck him as "a normal guy, nice kid." "There was nothing about him that was off, at least from my perception," the person said. Mangione attended the prestigious University of Pennsylvania, where he completed both a bachelor's and master's degree in computer science by 2020, according to a university spokesperson. While at Penn, Mangione co-led a group of 60 undergraduates who collaborated on video game projects, as noted in a now-deleted university webpage. On Instagram Mangione shared snapshots of his travels, and shirtless images of himself flaunting a six-pack. X users have scoured Mangione's posts for potential motives. His header photo includes an X-ray of a spine with bolts attached. Finding a political ideology that fits neatly onto the right-left divide has proved elusive, though he had written a review of Ted Kaczynski's manifesto on online site Goodreads, calling it "prescient." Kaczynski, known as the Unabomber, carried out multiple bombings in the United States from 1978 to 1995, in a campaign he said was aimed at halting the advance of modern society and technology. Mangione has also linked approvingly to posts criticizing secularism as a harmful consequence of Christianity's decline, and retweeted posts on the impact mobile phones and social media have on mental health. ia/abo-mlm/nroStealth destroyer to be home for 1st hypersonic weapon on a US warship
Stock market today: Nvidia drags Wall Street lower as oil and gold riseNone