Lincoln Financial, a US financial services company specializing in insurance, retirement and wealth management products, has announced the promotion of three senior executives to its Senior Management Committee (SMC).
The company appointed Darrel Tedrow as executive vice president, president of life insurance and retail shared services; Curtis Chesney as executive vice president and president of annuities; and Paul Spurr as executive vice president, chief risk officer and chief actuary. Each will report directly to Chairman, President and CEO Alan Cooper.
Lincoln Financial said the appointments reflect the success of its long-term leadership development strategy and its focus on developing executive talent within the organization.
The promotion is part of a broader evolution of the company’s leadership structure. Lincoln Financial has established dedicated leadership for its life insurance and annuity businesses, both of which are now led by separate presidents reporting directly to Cooper.
The company said the change recognizes the unique strategies, market conditions, product offerings, distribution models and capital requirements of each business as they continue their respective transformation plans.
Tedrow, a 20-year veteran of Lincoln Financial, will continue to oversee the company’s life insurance operations while taking on additional responsibilities for operations and shared services supporting its retail business.
He has been closely involved in the repositioning of the Life Insurance division since taking on the role of President Life Insurance in 2024. Lincoln Financial said his responsibilities will include achieving financial and growth targets, enhancing cash flow generation, advancing product initiatives, working with distribution teams and improving customer outcomes.
Chesney was 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 organization.
Lincoln Financial said Chesney will oversee business performance, growth plans, product strategy and effective management while maintaining a strong client and advisor experience across all distribution channels. The company added that it will continue its efforts to diversify its annuity portfolio through a greater emphasis on spread-based products designed to support more consistent cash flows and reduce sensitivity to market fluctuations.
Spurr spent more than two decades at Lincoln Financial Corporation, where his responsibilities expanded to combine risk management and actuarial functions. The company said consolidating these disciplines under one executive is intended to increase coordination and strengthen its enterprise-wide approach to governance and risk oversight.
In his new role, Spurr will be responsible for advancing Lincoln Financial’s risk management framework, overseeing the firm’s risk exposures and ensuring risk considerations remain integrated into strategic decisions. He will also continue to oversee actuarial activities, including valuations, reserving and pricing.
The leadership change coincides with the planned retirements 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 June 1, 2026.
Lincoln Financial said the two executives have been instrumental in supporting the company’s strategic priorities and developing future leaders. According to the company, everyone is working 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, thoughtful succession planning. Darrell, Curtis and Paul each bring deep institutional knowledge, proven leadership and track records that make me excited about our We are confident about our path forward. I’m truly excited to see leaders of this caliber step into their 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 our strategy and goals to serve our customers, partners and shareholders. “
Cooper also recognized the contributions of the retiring executives, saying, “We would also like to recognize 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 employees, and I wish them all the best in their well-deserved retirement.”
