Lincoln Financial Group (NYSE: LNC) promoted three executives to its Senior Management Committee, the company announced. Darrel Tedrow was named Executive Vice President and President of Life Insurance and Retail Shared Services, Curtis Chesney became Executive Vice President and President of Annuities, and Paul Spurr was appointed Executive Vice President, Chief Risk Officer and Chief Actuary.

The promotions represent a structural change in the company's leadership approach. The Life Insurance and Annuity businesses will each have dedicated presidents reporting directly to Chairman, President and CEO Ellen Cooper. Previously, both businesses operated under shared leadership.

Tedrow, who joined Lincoln 20 years ago, has served as President of Life since 2024. In his expanded role, he will oversee the Life business and operations and shared services functions supporting the company's retail businesses.

Chesney brings 17 years of experience at Lincoln, most recently serving as CFO of the company's Annuity business. He previously led Corporate Financial Planning and Analysis across Lincoln's business segments.

Spurr has worked at Lincoln for more than 20 years in finance, risk and actuarial roles. His appointment combines the risk and actuarial functions under single leadership.

The changes coincide with 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.

"These promotions reflect the incredible depth of talent we have developed at Lincoln and our commitment to thoughtful, deliberate succession planning," Cooper said in a statement.

Lincoln Financial provides annuities, life insurance, group protection and retirement plan services to approximately 17 million customers. The company reported $340 billion in end-of-period account balances as of March 31, 2026.