Lincoln Financial restructures leadership, names three to top committee

Chesney moves from CFO of the annuity division to the top role. Lincoln said he will oversee business performance, growth initiatives, product strategy, and in-force management. The company added that he will continue pushing the annuity portfolio toward spread-based products, which are designed to produce more consistent cash flows and reduce sensitivity to market swings.

Spurr's expanded role combines risk and actuarial functions under one executive. Lincoln said the move is intended to strengthen coordination and reinforce its enterprise-wide approach to governance and risk oversight. He will oversee valuation, reserving, and pricing alongside risk exposure management.

The promotions coincide with the planned retirement of Brian Kroll, president of retail life and annuity solutions, and Andy Rallis, chief risk officer. Both are effective June 1, 2026. Lincoln said each has worked closely with their successor to ensure a smooth transition.

Cooper said the appointments reflect the depth of internal talent and the company's commitment to succession planning. She also thanked the retiring executives for their contributions.

The leadership changes come as Lincoln works to reposition its life insurance division and reshape its annuity portfolio. The company has not provided a timeline for completing either transformation program.