Newark-based Prudential Financial Inc. announced Monday that Candace Woods has been promoted to chief actuary and senior vice president.
Woods is succeeding Richard Lambert, who announced he is retiring from the company early next year.
“Rich has been a tremendous asset to our company over his nearly 40-year career at Prudential,” said Mark Grier, vice chairman of Prudential. “Over the last four years, Rich has led a transformation of the Actuarial department to deliver insight, foresight and strategic thinking, as well as greater agility to support our businesses as they offer integrated solutions to meet our customers' evolving needs. His expertise and passion for our business have contributed significantly to Prudential's success, helping ensure that we keep the promises that we make. On behalf of Prudential, I want to thank Rich for his leadership, guidance and dedication to our mission. He has been a valued partner across the company and will be missed.”
“Our focus on talent management and mobility have positioned us for a seamless transition to Rich’s successor. Candace is a strong and decisive leader with a global perspective who has demonstrated her abilities to deliver results across the company. She has been instrumental in laying the foundation for actuarial’s transformation and bringing the department’s vision to life. I’m confident that under Candace’s leadership, the actuarial department will continue to deliver value for our stakeholders,” Grier said.
Woods joined Prudential in 1982 and has 35 years of actuarial experience. She previously served as chief actuary for the actuarial department’s new Center of Excellence since June 2017. Before that, she was vice president and chief actuary for Prudential’s international insurance operations.