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Lincoln Financial Announces Leadership Transition in Group Protection, Retirement Businesses
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Lincoln Financial Group (NYSE:LNC) has announced the immediate resignation of Jamie Ohl. Richard “Dick” Mucci, former president of the company’s Group Protection business, will temporarily lead both the Group Protection and Retirement Plan Services divisions. He will report to CEO-Elect Ellen Cooper and ensure operational continuity until a permanent leader is appointed. Cooper expressed confidence in the leadership teams' ability to maintain growth during this transition, emphasizing their commitment to delivering excellent service to clients.
Positive
Richard Mucci's return brings decades of industry experience.
Confidence in the leadership teams to sustain growth.
Negative
Immediate resignation of a key leader raises concerns about continuity.
Potential experience gaps during the transition period.
RADNOR, Pa.--(BUSINESS WIRE)--
Lincoln Financial Group (NYSE:LNC) today announced that Jamie Ohl has resigned from Lincoln effective immediately. Richard “Dick” Mucci, former president of the company’s Group Protection business until his retirement in 2019, is returning to Lincoln to lead both the Group Protection and Retirement Plan Services businesses on a temporary basis until we complete an internal and external search and a new leader is in place. He will report to CEO-Elect Ellen Cooper and work closely with the business leadership teams.
“The Group Protection and Retirement Plan Services businesses are led by strong teams and sound strategies, and with Dick’s decades of industry experience and deep knowledge of Lincoln’s businesses, we are confident they will continue to drive growth while we identify a permanent leader,” Cooper said. “We are committed to continuing to provide industry leading service to our clients and their employees during this time of transition.”
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 December 31, 2021. Lincoln Financial Group is a committed corporate citizen included on major sustainability indices including the Dow Jones Sustainability Index North America and FTSE4Good and ranks among Newsweek’s Most Responsible Companies. Dedicated to diversity, equity and inclusion, we are included on transparency benchmarking tools such as the Corporate Equality Index, the Disability Equality Index and the Bloomberg Gender-Equality Index. Committed to providing our employees with flexible work arrangements, we were named to FlexJobs’ list of the Top 100 Companies to Watch for Remote Jobs in 2022. Learn more at: www.LincolnFinancial.com. Follow us on Facebook, Twitter, LinkedIn, and Instagram. Sign up for email alerts at http://newsroom.lfg.com.
