Prudential Financial Elects Carmine Di Sibio to Board of Directors

Rhea-AI Summary

Prudential Financial has elected Carmine Di Sibio to its Board of Directors as an independent director, effective July 1, 2024. Di Sibio, recently retired as global chairman and CEO of EY, brings extensive experience in business strategy and innovation. At EY, he led a global strategy that invested over $10 billion in technology and innovation. Di Sibio will serve on Prudential's Audit Committee. He has also held significant roles at EY including global managing partner for Client Services and chair of the Global Financial Services Markets Executive. Di Sibio is currently on the boards of PayPal and Focusing Capital on the Long Term (FCLT).

Positive

• Carmine Di Sibio's addition to the board brings deep expertise in business strategy and innovation.
• Di Sibio's leadership experience includes managing a $10 billion investment in technology at EY.
• His roles at global organizations like EY and PayPal could provide Prudential with valuable insights.

Negative

• There may be concerns about how quickly Di Sibio can adapt to Prudential’s unique challenges and culture.

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYSE: PRU) announced today that Carmine Di Sibio has been elected to the Board of Directors as an independent director, effective July 1, 2024. He will serve on the Board’s Audit Committee.

Di Sibio recently retired as global chairman and chief executive of EY, one of the world’s largest professional services organizations. He led EY’s global strategy, through which the organization invested more than $10 billion in technology, solutions and EY people over the last five years. Additionally, he spearheaded its innovation efforts into new and emerging fields through acquisitions and alliances.

“Carmine brings to Prudential a deep understanding of business strategy and innovation, which will help guide our continued efforts to be a higher growth, more capital efficient, and more nimble company,” said Gil Casellas, director and chair of the Board’s Corporate Governance and Business Ethics Committee. “We are excited to welcome him to Prudential’s Board and look forward to working together.”

At EY, Di Sibio previously served as global managing partner, Client Services. Prior to that, he held several global operating and leadership positions, including chair of the Global Financial Services Markets Executive and regional managing partner for the Americas Financial Services Organization. Since joining EY in 1985, he has served as an Advisory and Assurance partner for many financial services accounts.

Di Sibio serves as a member of the board of PayPal, a digital payments technology platform, and Focusing Capital on the Long Term (FCLT), a nonprofit organization that encourages long-term behaviors in business and investment decision-making. He is also a member of the World Economic Forum’s International Business council. He earned an MBA from New York University’s Stern School of Business and a B.A. in chemistry from Colgate University.

ABOUT PRUDENTIAL
Prudential Financial, Inc. (NYSE: PRU), a global financial services leader and premier active global investment manager with approximately $1.5 trillion in assets under management as of March 31, 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/20240701612427/en/

MEDIA

YeaJin Kim

yeajin.kim@prudential.com

Source: Prudential Financial, Inc.

FAQ

Who was recently elected to Prudential Financial's Board of Directors?

Carmine Di Sibio was elected as an independent director to Prudential Financial's Board of Directors.

When will Carmine Di Sibio join Prudential Financial's Board of Directors?

Carmine Di Sibio will join Prudential's Board of Directors on July 1, 2024.

What role will Carmine Di Sibio have on Prudential Financial's Board?

Carmine Di Sibio will serve on Prudential Financial's Audit Committee.

What is Carmine Di Sibio's background?

Carmine Di Sibio recently retired as global chairman and CEO of EY, where he led a $10 billion investment in technology and innovation.

Which other boards does Carmine Di Sibio serve on?

Carmine Di Sibio serves on the boards of PayPal and Focusing Capital on the Long Term (FCLT).

What are the potential impacts of Carmine Di Sibio joining Prudential Financial?

His experience in strategy and innovation could drive Prudential's growth and efficiency, but there may be concerns about his adaptation to Prudential’s environment.