Lincoln Financial, a US financial services company specialising in insurance, retirement and wealth management products, has announced the promotion of three senior executives to its Senior Management Committee (SMC).
The company has named Darrel Tedrow as Executive Vice President, President of Life Insurance and Retail Shared Services; Curtis Chesney as Executive Vice President, President of Annuities; and Paul Spurr as Executive Vice President, Chief Risk Officer and Chief Actuary. Each will report directly to Ellen Cooper, Chairman, President and Chief Executive Officer.
Lincoln Financial said the appointments reflect the success of its long-term leadership development strategy and its focus on building executive talent from within the organisation.
The promotions form part of a broader evolution of the company’s leadership structure. Lincoln Financial has established dedicated leadership for its Life Insurance and Annuity businesses, with both divisions now headed by separate Presidents reporting directly to Cooper.
The company said the change recognises the distinct strategies, market conditions, product offerings, distribution models and capital requirements shaping each business as they continue their respective transformation programmes.
Tedrow, who has been with Lincoln Financial for 20 years, will continue to oversee the company’s Life Insurance business while taking on additional responsibility for operations and shared services that support its retail businesses.
Having served as President of Life since 2024, he has been closely involved in the repositioning of the Life Insurance division. Lincoln Financial said his responsibilities will include delivering financial and growth objectives, strengthening cash flow generation, progressing product initiatives, collaborating with distribution teams and enhancing customer outcomes.
Chesney has been appointed to lead Lincoln Financial’s Annuity business after 17 years with the company. He most recently served as Chief Financial Officer of the Annuity division and previously led Corporate Financial Planning and Analysis across the wider organisation.
Lincoln Financial said Chesney will oversee business performance, growth initiatives, product strategy and in-force management, while maintaining a strong customer and adviser experience across all distribution channels. The company added that he will continue efforts to diversify the annuity portfolio through a greater emphasis on spread-based products designed to support more consistent cash flows and lower sensitivity to market fluctuations.
Spurr, who has spent more than two decades at Lincoln Financial, takes on an expanded role that combines oversight of both risk and actuarial functions. The company said bringing these disciplines together under one executive is intended to strengthen coordination and reinforce its enterprise-wide approach to governance and risk oversight.
In his new position, Spurr will be responsible for advancing Lincoln Financial’s risk management framework, overseeing the company’s risk exposure and ensuring risk considerations remain embedded within strategic decision-making. He will also continue to oversee actuarial activities including valuation, reserving and pricing.
The leadership changes coincide with the planned retirement of Brian Kroll, Executive Vice President and President of Retail Life and Annuity Solutions, and Andy Rallis, Executive Vice President and Chief Risk Officer, both effective from 1 June 2026.
Lincoln Financial said both executives played important roles in supporting the company’s strategic priorities and developing future leaders. According to the company, each has worked closely with their successor to facilitate a smooth transition.
Commenting on the appointments, Cooper said: “These promotions reflect the incredible depth of talent we have developed at Lincoln and our commitment to thoughtful, deliberate succession planning. Darrel, Curtis and Paul each bring deep institutional knowledge, proven leadership, and a track record of results that give me tremendous confidence in our path forward. It is genuinely exciting to see leaders of this caliber step into expanded roles, and I look forward to the energy they will bring to our Senior Management Committee as we continue to lead our talented workforce in executing on our strategy and delivering for our customers, partners, and shareholders.”
Cooper also acknowledged the contributions of the retiring executives, stating: “We also want to recognise and thank Brian Kroll and Andy Rallis for their significant contributions to Lincoln,” Cooper continued, “I am deeply grateful for their partnership, their leadership, and their commitment to our strategy and our people — and I wish them both the very best in their well-earned retirements.”
