Prudential taps Strangfeld as CEO

Prudential Financial Inc. of Newark, N.J. yesterday named John R. Strangfeld its chief executive officer, effective Jan. 1, 2008. Mr. Strangfeld, currently vice chairman of Prudential, now runs all of the company’s U.S. businesses. In this promotion, he will succeed Arthur F. Ryan, chairman and CEO. Mr. Ryan will retire from the C-suite at the end of the year and step down from his post as chairman in May 2008. At that time, Mr. Strangfeld, 53, will receive the reins as Prudential’s chairman, leading the company after spending three decades with the firm. Additionally, vice chairman Mark Grier, who handles all of Prudential’s’ international businesses, will join the board of directors, effective Jan. 1. Mr. Grier, 55, has been with the firm since 1995, when he joined as chief financial officer.