- Push-out Score determined
- After 15 years in the position
- Accolades, praise and thanks for Glass
- Ellen Cooper taking over
- Glass will remain as chairman at Lincoln Financial
- Glass spoke at length and said 166 words
(exechange) — Radnor, Pennsylvania, August 30, 2021 — Dennis Glass, chief executive of Lincoln Financial, leaves his post. His departure is made public at an early stage. As announced by Lincoln Financial Group in a news release and in a regulatory filing published on Monday, August 30, 2021, Dennis R. Glass leaves his post as chief executive officer of Lincoln National Corporation, a provider of annuities and retirement products, after 15 years in the role, effective following the 2022 Annual Meeting of Shareholders planned for next May.
It is the end of an era.
Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates.
Long goodbye
It is a long goodbye. The announcement of Dennis Glass’s move comes up to eight months prior to his planned departure from the post of CEO.
In general, a top executive who announces the departure particularly early may be considered a lame duck.
Dennis Glass’s duties as CEO will be taken over by Ellen G. Cooper, currently executive vice president, chief investment officer, head of Enterprise Risk and the Annuity Solutions group at Lincoln National Corp.
“Thoughtful long-term succession planning”
Dennis Glass’s departure from the CEO post is explained as follows. William Cunningham, Lincoln’s current board chair, said: “The board has engaged in thoughtful long-term succession planning, and today’s announcement demonstrates the strength of that process as well as our depth of talent at the executive level to drive the Company’s continued growth and success.”
Glass will remain as chairman at Lincoln Financial
“Dennis R. Glass, president and CEO, will transition roles following the 2022 Annual Meeting of Shareholders planned for next May, becoming the chairman of the board,” Lincoln Financial Group said.
“Retire”
Lincoln Financial Group said: “On August 27, 2021, Dennis R. Glass, currently president, Chief Executive Officer (“CEO”) and a member of the Board of Directors (the “Board”) of Lincoln National Corporation (the “Corporation”), determined to retire as president and CEO of the Corporation, effective following the 2022 Annual Meeting of Shareholders.”
Share price increase since August 2016
The announcement follows an increase in Lincoln National Corp.’s share price of 63% since August 2016.
In the position of CEO since 2007
Dennis Glass became CEO of the Company in 2007.
Glass has served as the Company’s President since 2006 and the Company’s CEO since 2007.
He is also President of, and serves on the boards of, the Company’s principal insurance subsidiaries.
Before the Company’s merger with Jefferson-Pilot Corporation, Glass was President, CEO and a Director of that company.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Dennis Glass’s move on a scale of 0 to 10.
exechange reached out to Lincoln Financial Group and offered Lincoln Financial Group the opportunity to comment on the score.
Read the full story in the exechange report 36.2021 ($).