PRUDENTIAL FINANCIAL INC
For the period ended May 14, 2024. Filed Mar 28, 2024.
View on SEC.govAbout this filing
What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.
May 14, 2024 · Filed Mar 28, 2024
Contents
Pay Equity Statement
Pay Equity Statement
Prudential’s Total Rewards package is integral to our employee value proposition. This package includes compensation, benefits, and well-being and talent programs and resources available to our employees.
As part of our annual human resources strategy update, our Board of Directors reviews and provides oversight of the Company’s pay practices.
Our Total Rewards and talent programs are market competitive, reviewed against our relevant peer group of companies, and enable Prudential to recruit and promote talent within the context of an individual’s background, experience, and performance.
| | Prudential’s policies and practices are designed to addresspay equity throughout the employee’s career. | |
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Recruiting
Took steps to reduce the likelihood that historical compensation decisions are perpetuating discriminatory pay practices.
Nationally, Prudential removed inquiries concerning current or past compensation from its employment applications, except as required by law.
Stopped considering compensation history when establishing starting pay for new employees, except as required by law.
These practices go beyond simple compliance with the laws of a limited number of states and cities.
Existing Employees
Guided by independent legal counsel, Prudential conducts a review of its U.S. compensation practices to help protect against systemic race/ethnicity and gender-biased patterns and takes action as warranted.
Employees can raise issues regarding pay equity with the Ethics Office, Employee Relations, Human Resources, or their manager.
Pay equity is a critical component of our commitment to paying employees fairly, regardless of race/ethnicity and/or gender.
We try to ensure that pay discrimination concerns are promptly and thoroughly investigated by trained professionals dedicated to reviewing unlawful discrimination claims.
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| | In 2024, Prudential retained independent experts to conduct pay analyses for our U.S. population. Base salary, bonus, and equity were evaluated. Described below are the results which trend positively from our 2022 analyses, reinforcing our commitment to diversity and inclusion: • With respect to salary, the results showed that, when accounting for relevant factors including job and location, on average, women were paid at least 100% of the pay of male employees and, Black and Asian employees were paid at least 100%, and Hispanic employees were paid 99.9% of the pay of non-Hispanic white employees.1 • With respect to total compensation (salary, bonus, and equity), accounting for relevant factors including job and location, on average, women were paid 99.1% of the pay of male employees and, Asian and Hispanic employees were paid at least 100% and Black employees were paid 99.9% of the pay of non-Hispanic white employees. | | | In 2022, salary, bonus, and equity were evaluated. Described below are the results: • With respect to salary, the results showed that, when accounting for relevant factors including job and location, on average, women and Asian employees were paid at least 100% of the pay of male and white employees, respectively. Additionally, on average, Black employees were paid 99.3% and Hispanic employees 99.0% of the pay of non-Hispanic white employees. • With respect to total compensation accounting for relevant factors including job and location, on average, women were paid at 99.8% of male employees, Asian employees were paid at least 100%, Black employees were paid 99.4% and Hispanic employees were paid 98.9% of non-Hispanic white employees. 1. Hispanic also includes employees of Latin descent. | |
We work with our communities
to create solutions
that drive economic mobility.
At Prudential, our purpose is to solve the financial challenges of our changing world. We believe that building better financial futures starts with cultivating strong partnerships. We know that those who are closest to their communities are best positioned to drive change, so we work hand-in-hand with residents, organizations and institutions that are creating impact in neighborhoods around the world.
Locally, we’re supporting community-based projects that foster neighborhood stability and growth.
In 2023, the company launched the inaugural Prudential Community Grants Program in our hometown of Newark, New Jersey. With a $500,000 grant to the Community Foundation of New Jersey, Prudential supported 53 neighborhood-based solutions to promote community vitality. These programs include a free weekly community workout; violence prevention programs for youth; and education sessions on healthy eating and using community gardens. An especially impactful aspect of the program: tapping the collective wisdom and insights of the community by having residents serve on the selection committee.
We committed nearly $7 million to strengthen historically Black colleges and universities (HBCUs) throughout
the U.S.
Prudential and PGIM have a multipronged strategy to strengthen the capacity of HBCUs as anchor institutions in their communities. A key goal: providing access to educational resources for students to increase their knowledge of finance and capital markets. By working in lockstep with leaders at institutions including Hampton University and Florida A&M University, we’ve provided 500 students at HBCUs and other schools with $1,000 grants to seed investment accounts. We’ve also helped provide Bloomberg Terminals to boost students’ access to current market intelligence and trading skills through the PGIM Finance Labs.
We’re investing in youth overseas to increase their economic opportunities.
As just one example, in 2023, Prudential of Brazil launched a unique program in response to a staggering statistic: Only 5 of every 100 public high school graduates in Brazil achieve required math proficiency. The Actuaries of the Future program selects youth from the Redes de Maré favela, a historically disadvantaged neighborhood, to prepare for and take a college entrance exam for math, actuarial sciences, statistics and accounting.
This is a new component of Prudential of Brazil’s successful initiative, Young Professionals for the Future, launched in 2020. The Prudential Foundation has committed more than $2 million to help more than 5,000 young Brazilians who have historically been underserved get access to better schooling and job training. This pioneering effort is the result of collaboration with Redes da Maré, a nonprofit partner in Rio de Janeiro that truly understands the needs of its community.
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MMMMMMMMMMMMMMMAdmission Ticket C0123456789 ENDORSEMENT_LINE______________ SACKPACK_____________ 000000000.000000 ext000000000.000000 ext000000000.000000 ext 000000000.000000 ext000000000.000000 ext000000000.000000 ext MR A SAMPLE DESIGNATION (IF ANY) ADD 1ADD 2ADD 3ADD 4ADD 5ADD 6 Your vote matters – here’s how to vote!You may vote online or by phone instead of mailing this card.Votes submitted electronically must be received by 11:59 p.m., May 13, 2024, for Registered Shares andby 11:59 p.m., May 8, 2024, for PESP Shares.OnlineGo to www.investorvote.com/prudential — login details are located in the shaded bar below.Vote by telephone•Call toll-free 1-800-652-VOTE (8683) within the USA, US territories & Canada any time on a touch tone telephone. There is NO CHARGE for the call.•Follow the instructions provided by the recorded message. Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas. Save paper, time and money! Registered shareholders (Holders of Record) can sign up for electronic delivery of future proxy materials at www.investorvote.com/prudential 1.Election of Directors: T IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. TFor Against AbstainFor Against AbstainFor Against Abstain+ 02- Robert M. Falzon03- Martina Hund-Mejean 06 - Kathleen A. Murphy 07 - Sandra Pianalto 10 - Michael A. Todman 04 - Wendy E. Jones08 - Christine A. Poon 2.Ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2024.3.Advisory vote to approve named executive officer compensation. For Against Abstain 4.Shareholder proposal regarding an Independent Board Chairman. For Against Abstain I would like a free tote bag from Prudential.I prefer Prudential contribute to a tree planting campaign.Please sign exactly as name(s) appears herein. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title.Date (mm/dd/yyyy) — Please print date below.Signature 1 — Please keep signature within the box.Signature 2 — Please keep signature within the box. C 1234567890J N T1 U P X6 0 0 3 5 0 MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE 140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE
If you plan to attend the annual meeting, please bring this admission ticket with you. This ticket admits the shareholder. All meeting attendees must present valid government-issued photo identification. For your safety, all personal belonging or effects including purses are subject to inspection. With the exception of purses and notepads, no personal items such as briefcases or bags, of any type, may be carried into the meeting area. The use of photographic and recording devices is prohibited in the building. Cell phone use is permitted only in the first floor lobby. The meeting location is accessible to disabled persons and, upon request, we will provide wireless headsets for hearing amplification.This card covers the total number of shares of Prudential Financial, Inc. Common Stock (“Common Stock”) registered in your name (“Registered Shares”) at Prudential’s transfer agent, Computershare, as of March 15, 2024, and may also cover the total number of shares of Prudential Financial, Inc. Common Stock held in The Prudential Employee Savings Plan (“PESP”) on March 13, 2024.You only need to vote once. This card enables you to submit your vote on your Registered Shares and to provide voting instructions to the PESP Trustee for your PESP shares.Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be held on May 14, 2024. The Proxy Statement and Annual Report to Shareholders are available at www.investorvote.com/prudential.T IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. T+This proxy is solicited on behalf of the Board of Directors of Prudential Financial, Inc. for the Annual Meeting of Shareholders to be held at 2:00 p.m. on May 14, 2024.The undersigned, having received the Notice of Meeting and Proxy Statement dated March 28, 2024, appoints Margaret M. Foran, Ann Kappler and Charles F. Lowrey, each of them as proxies, with full power of substitution, to represent and vote all of the undersigned’s shares of Common Stock of Prudential Financial, Inc., at the Annual Meeting of Shareholders to be held at 2:00 p.m., May 14, 2024, or at any adjournment or postponement, upon all subjects that may properly come before the meeting, including the matters described in the proxy statement, subject to any directions indicated on the reverse side of this card.This proxy, when properly executed, will be voted in the matter directed herein by the undersigned shareholder. If no directions are given, the proxies will vote in accordance with Board of Directors’ recommendations as listed on the reverse side of this card and at their discretion on any other matter that may properly come before the meeting and any adjournment or postponement thereof (including, if applicable, on any matter which the Board of Directors did not know would be presented at the Annual Meeting by a reasonable time before the proxy solicitation was made or for the election of a person to the Board of Directors if any nominee named in Proposal 1 becomes unable to serve or for good cause will not serve).Special Voting Instructions for Plan Shares: If you are a participant in The Prudential Employee Savings Plan (“PESP”), your shares will be voted by the applicable trustee or administrator in accordance with the instructions indicated on the reverse side or received by internet or telephone. If no instructions are specified, your PESP shares will be voted in the same proportion as the PESP Trustee votes the shares for which it received timely voting instructions, and all other shares will be voted by the plan administrator in accordance with the Board of Directors’ recommendations, in each case, subject to the terms of the applicable plan documents and applicable law.Comments — We value your feedback. Please provide any comments you have in the space below.
MMMMMMMMMMMMMMM Using a black ink pen, mark your votes with an X as shown in this example. Please do not write outside the designated areas.T IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. T 01 - Gilbert F. Casellas 02 - Robert M. Falzon03 - Martina Hund-Mejean 04 - Wendy E. Jones For Against Abstain 05 - Charles F. Lowrey 06 - Kathleen A. Murphy 07 - Sandra Pianalto08- Christine A. Poon For Against Abstain 09- Douglas A. Scovanner 10 - Michael A. Todman For Against Abstain+ 2.Ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2024.3.Advisory vote to approve named executive officer compensation. For Against Abstain 4.Shareholder proposal regarding an Independent Board Chairman. For Against Abstain I would like a free tote bag from Prudential.I prefer Prudential contribute to a tree planting campaign.Please sign exactly as name(s) appears herein. Joint owners should each sign. When signing as attorney, executor, administrator, corporate officer, trustee, guardian, or custodian, please give full title.Date (mm/dd/yyyy) — Please print date below.Signature 1 — Please keep signature within the box.Signature 2 — Please keep signature within the box. C 1234567890J N T1 U P X6 0 0 3 5 0 MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE 140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE
If you plan to attend the annual meeting, please bring this admission ticket with you. This ticket admits the shareholder. All meeting attendees must present valid government-issued photo identification. For your safety, all personal belonging or effects including purses are subject to inspection. With the exception of purses and notepads, no personal items such as briefcases or bags, of any type, may be carried into the meeting area. The use of photographic and recording devices is prohibited in the building. Cell phone use is permitted only in the first floor lobby. The meeting location is accessible to disabled persons and, upon request, we will provide wireless headsets for hearing amplification.T IF VOTING BY MAIL, SIGN, DETACH AND RETURN THE BOTTOM PORTION IN THE ENCLOSED ENVELOPE. TThis proxy is solicited on behalf of the Board of Directors of Prudential Financial, Inc. for the Annual Meeting of Shareholders to be held at 2:00 p.m. on May 14, 2024.The undersigned, having received the Notice of Meeting and Proxy Statement dated March 28, 2024, appoints Margaret M. Foran, Ann Kappler and Charles F. Lowrey, each of them as proxies, with full power of substitution, to represent and vote all of the undersigned’s shares of Common Stock of Prudential Financial, Inc., at the Annual Meeting of Shareholders to be held at 2:00 p.m., May 14, 2024, or at any adjournment or postponement, upon all subjects that may properly come before the meeting, including the matters described in the proxy statement, subject to any directions indicated on the reverse side of this card.This proxy, when properly executed, will be voted in the matter directed herein by the undersigned shareholder. If no directions are given, the proxies will vote in accordance with Board of Directors’ recommendations as listed on the reverse side of this card and at their discretion on any other matter that may properly come before the meeting and any adjournment or postponement thereof (including, if applicable, on any matter which the Board of Directors did not know would be presented at the Annual Meeting by a reasonable time before the proxy solicitation was made or for the election of a person to the Board of Directors if any nominee named in Proposal 1 becomes unable to serve or for good cause will not serve).Important Notice Regarding the Availability of Proxy Materials for the Shareholder Meeting to be held on May 14, 2024. The Proxy Statement and Annual Report to Shareholders are available at www.prudential.com/governance.
MMMMMMMMMMMM+C 1234567890ENDORSEMENT_LINE______________ SACKPACK_____________ MR A SAMPLE DESIGNATION (IF ANY) ADD 1ADD 2ADD 3ADD 4ADD 5ADD 6 Your vote matters – here’s how to vote!You may vote online or by phone.Votes submitted electronically must be received by 11:59 p.m., May 13, 2024, for Registered Shares andby 11:59 p.m., May 8, 2024, for PESP Shares.OnlineGo to www.investorvote.com/prudential — login details are located in the shaded bar below.Vote by telephone Important Notice Regarding the Availability of Proxy Materials for the Prudential Financial, Inc. Shareholder Meeting to be Held on May 14, 2024Under Securities and Exchange Commission rules, you are receiving this notice that the proxy materials for the annual shareholders’ meeting are available on the Internet. Follow the instructions below to view the materials and vote online or request a copy. The items to be voted on and location of the annual meeting are on the reverse side. Your vote is important!This communication is not a form for voting and presents only an overview of the more complete proxy materials that are available to you on the Internet. We encourage you to access and review all of the important information contained in the proxy materials before voting. The proxy statement and annual report to shareholders are available at:Easy Online Access — View your proxy materials and vote.Step 1:Go to www.investorvote.com/prudential.Step 2:Click on the icon on the right to view meeting materials.Step 3:Return to the investorvote.com window and follow the instructions on the screen to log in.Step 4:Make your selections as instructed on each screen for your delivery preferences.Step 5:Vote your shares.When you go online, you can also help the environment by consenting to receive electronic delivery of future materials. 03XHHA 2 N O T C O Y+
Prudential Financial, Inc.’s Annual Meeting of Shareholders will be held on May 14, 2024, at 751 Broad Street, Newark, New Jersey 07102, at 2:00 p.m.Proposals to be voted on at the meeting are listed below along with the Board of Directors’ recommendations.The Board of Directors recommends that you vote FOR the election of each director nominee listed in Proposal 1, FOR Proposals 2 and 3:1.Election of Directors: Gilbert F. Casellas, Robert M. Falzon, Martina Hund-Mejean, Wendy E. Jones, Charles F. Lowrey, Kathleen A. Murphy Sandra Pianalto, Christine A. Poon, Douglas A. Scovanner and Michael A. Todman.2.Ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2024.3.Advisory vote to approve named executive officer compensation.The Board of Directors recommends that you vote AGAINST Proposal 4:4.Shareholder proposal regarding an Independent Board Chairman.PLEASE NOTE – YOU CANNOT VOTE BY RETURNING THIS NOTICE. To vote your shares you must go online or request a paper copy of the proxy materials to receive a proxy card. We encourage you to vote your shares before the Annual Meeting. If you are attending the meeting, you will be asked to present your admission ticket and valid government-issued photo identification. For your safety, all personal belonging or effects including purses are subject to inspection. With the exception of purses and notepads, no personal items such as briefcases or bags, of any type, may be carried into the meeting area. The use of photographic and recording devices is prohibited in the building. Cell phone use is permitted only in the first floor lobby. The meeting location is accessible to disabled persons and, upon request, we will provide wireless headsets for hearing amplification.Obtaining a Copy of the Proxy Materials – If you want to receive a paper or e-mail copy of these documents, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy as instructed below on or beforeMay 1, 2024, to facilitate timely delivery.Here’s how to order a copy of the proxy materials and select future delivery preference:Paper copies: Current and future paper delivery requests can be submitted via the telephone, Internet or e-mail options below.E-mail copies: Current and future e-mail delivery requests must be submitted via the Internet or e-mail following the instructions below. If you request an e-mail copy of the materials, you will receive an e-mail with a link to view the materials on the Internet.PLEASE NOTE: You must use the number in the shaded bar on the reverse side when requesting a set of proxy materials.J Internet – Go to www.investorvote.com/prudential and follow the instructions to log in and order a paper or e-mail copy of the current meeting materials and submit your preference for e-mail or paper delivery of future meeting materials.J Telephone – Call us free of charge at 1-866-641-4276 using a touch-tone phone and follow the instructions to log in and order a paper copy of the materials by mail for the current meeting. You can also submit a preference to receive a paper copy for future meetings.J E-mail – Send an e-mail to investorvote@computershare.com with “Proxy Materials Prudential” in the subject line. In thee-mail, include your full name and address, plus the number located in the shaded bar on the reverse side of this document. State in the e-mail whether you want a paper or e-mail copy of the current meeting materials. You can also state your preference for an e-mail or paper copy for future meetings.
Dear Shareholder:This package includes your proxy and voting materials. We care about what you think and voting is an important way for you to let us know how we’re doing.To express our appreciation of your vote, we are once again offering all registered shareholders a choice of receiving a specially designed, environmentally friendly tote bag, or contributing to a tree-planting campaign. Since its inception, we have provided nearly 851,000 tote bags to our shareholders. With your active participation, we continue to support the work of American Forests to protect and restore America’s forest ecosystems.Whether you vote via the internet, phone, or mail, you can indicate your choice of either the bag or a tree-planting contribution. If you elect to receive a bag, you can expect to receive your free gift by the end of the summer.Thank you for taking the time to vote. 2024 Reminder: Direct Deposit Your Three ways to enroll in direct deposit: Margaret M. Foran'LMIJ +SZIVRERGI 3GIV,Senior Vice President and Corporate Secretary By the end of 2024, Prudential will no longer mail paper dividend checks to registered shareholders. If you are not already enrolled and are a registered shareholder with our transfer agent, Computershare, please do not delay and enroll now to continue to receive your Prudential stock dividends.
© Copyright 2017 Computershare Limited. All rights reserved. FAQ — Internet Availability of Proxy Materials The Securities and Exchange Commission (SEC) has issued rules requiring public companies to: • Make proxy materials (such as the Annual Report and Proxy Statement) available on the internet • Notify shareholders how and where to access those materials online These rules allow companies to give shareholders more options for reviewing important proxy materials. Information can be made available to shareholders more quickly and conveniently — online documents are easily The SEC also allows companies to send a one-page Notice to holders with instructions on how to access the materials online, rather than sending a full set of materials. Our reasons for choosing the notice-only option are to: • Adopt more sustainable practices and be more environmentally responsible — by shrinking our carbon footprint through reductions in ink and paper used in printing and fuel used in shipping • Increase shareholder value — by reducing print and mail costs lease reer to te inormation below to learn more and to and ot wat or otions are as a sareolder to view materials and vote. What is on the one-page Notice? The Notice contains simple instructions on how to: • Access and view the proxy materials online • Vote your shares online • Request a free set of printed materials • Change delivery
preferences for future proxy mailings DO retain the Notice for future reference DO NOT mark your vote on the Notice and return it; the Notice is not a proxy card or ballot If I received only a one-page Notice, how do I vote my shares? To vote your shares, follow the instructions on the Notice to vote online. If you request a paper copy of the proxy materials, you’ll receive a proxy card with voting instructions. You may also vote your shares in person by bringing the Notice with you and attending the meeting. If I received only a one-page Notice, how do I request a full set of printed materials for this meeting or future proxy mailings? To request a free set of printed materials for this meeting or for future mailings, refer to the Notice for detailed instructions on how to request a copy via internet, telephone or email. If I received a full set of materials, may I request only a one-page Notice for future proxy mailings? Our company will make a decision for each meeting whether or not to use the notice-only option, and send notice-only mailings at our discretion. Can I elect to receive my proxy materials electronically? You may elect to receive materials via email for future mailings. You will receive the materials electronically if our company chooses to offer email delivery in the future. To change your delivery preferences, follow the instructions on the Notice. One of your key privileges as an investor is the right to vote on important matters that affect the company you own shares in. Please vote. Your vote is important to us and our business.
Video Transcript Delivered For:
Prudential Financial, Inc. 2024 Proxy Statement
Wendy E. Jones, Prudential Board Member
Hello. I am Theresa Molloy, Vice President of Governance at Prudential. Thank you for tuning in to watch this short video “Three Questions for Wendy Jones”. Wendy is a Prudential Board member and sits on the Company’s Audit, Corporate Governance and Business Ethics and Compensation and Human Capital Committees.
Wendy, thank you very much for taking the time to share your insight about Prudential’s Board.
Wendy tell us a little bit about your background and why you chose to join Prudential’s board?
Prior to joining Prudential’s Board, I was Senior Vice President of Global Operations at Ebay. I retired from Ebay in 2020 and joined Prudential’s Board in January 2021.
I chose to join Prudential’s Board because I believed my global experience and technical expertise could help Prudential leverage its technology for more meaningful customer impact.
I was also impressed by the Board’s culture and rigor of Prudential’s Board recruitment process.
That is a great segue into my next question regarding director succession planning. You sit on the Governance Committee. Can you explain how the Committee and Board think about Board composition to ensure optimal performance?
I would be happy to.
We start with our skills matrix — like the one all investors have access to in our proxy statement. This is our roadmap. We compare the skills and attributes of current directors with those that are critical to the Company’s long-term strategy, and we identify and address any gaps. If there are gaps, we contemplate the best way to enhance Board expertise.
A recent example is the addition of Kathleen Murphy to our Board. Kathleen is the former president of Fidelity’s Personal Investing unit. She brings extensive experience in financial services including wealth management as well as investment and asset management and a track record for driving growth and building new business capabilities.
We also look at the full Board’s composition. Our Corporate Governance Principles and Practices explains how the Board requires a diverse candidate pool for all director searches and evaluates a nominee’s experience, diversity, skills and other qualities in the context of the full Board.
As we narrow the candidate pool, we examine two critically important qualities. One, we evaluate the candidates outside commitments. We want to make sure the candidate can fulfill their responsibilities given the significant time commitment of a Prudential directorship. And two, we consider the candidate’s cultural fit because we believe a healthy culture plays a significant role in elevating Board performance.
Wendy for our final question what do you want our audience to know about Prudential’s Board?
January 2024 marked my third year on Prudential’s Board. During the recruitment process — and today, I see a Board that is cohesive and collaborative, yet comfortable challenging business concepts that they believe are not aligned with the Company’s long-term objectives.
I believe this stems from the skills, experience and diversity of each director’s history. The quality of our directors is evident not only in their biographies that you read in our proxy — but their unwavering commitment to Prudential’s success.
This wraps up our “Three Questions for Wendy Jones”. Wendy thank you for taking the time to share you views with our stakeholders.
It is my pleasure, Theresa.
Video Transcript Delivered For:
Prudential Financial, Inc. 2024 Proxy Statement
Martina Hund-Mejean, Prudential Board Member
Hello. I am Cecilia Orchard, Senior Vice President and Chief Auditor at Prudential. Thank you for tuning in to watch this short video “Three Questions for Martina Hund-Mejean”, Prudential board member.
Martina, thank you very much for taking the time to share your insight about Prudential’s Board.
First, can you tell me about your role as director and what it was about Prudential that led you to join the Board?
I have been on Prudential’s Board since 2010. I am currently Chair of the Audit Committee and member of the Board’s Finance Committee. Prudential’s purpose of making lives better by solving the financial challenges in a changing world is an important one.
At the time I joined, I was the CFO at Mastercard. I believed my standard of leadership, strategic thinking and financial stewardship as CFO complemented the skills of Prudential’s other directors and uniquely suited me to add value to the Board.
I think that has served our Board well. Can you tell me about the role of the Audit Committee and your role as Chair?
The purpose of the Audit Committee is to oversee Prudential’s accounting and financial reporting and related disclosure processes. The Committee specifically oversees insurance risk, operational risk, risk related to financial controls, legal, regulatory and compliance, and the Company’s overall risk management function.
The Audit Department, and you as the Chief Audit Executive, reports directly to the Audit Committee, enabling direct line of sight into evaluation of these risks and supporting the independent effective challenge so necessary for the internal auditors. I also oversee the relationship with our external auditors.
As Chair, I oversee and take ultimate responsibility for the Audit Committee’s work and coordinate our initiatives with other board committees. During each Audit Committee meeting, we set aside time to take a deep dive into important areas of risk, accounting policy, and financial estimates.
I greatly value the role you play in overseeing the Internal Audit Department, in particular your active engagement and support.
For our final question what do you want our audience to know about Prudential’s Board?
First, Prudential’s management team encourages directors to engage with employees outside of the Company’s most senior leaders. For example, we have Board dinners that include the next generation of senior leaders before each in-person Board meeting. This is particularly important to me because this company stands and falls with its people. Prudential is a very large and complex organization, and I spend a great deal of time speaking to our internal auditors and I am impressed with their understanding of the strategic alignment among the various businesses and functions. They are a key partner of Prudential’s transformation and our audit plan must be commensurate with the amount of change we are navigating.
Prudential’s directors appreciate that our stakeholders view Prudential as the rock. . The Board is fully behind the Company’s strategy — which means, fueling our growth with a focus on customer needs, product quality and speed to market.
We would not be able to serve our customers successfully without our commitment to a robust risk and controls framework, which starts at the Board and cascades throughout the organization.
Cecilia Orchard Closes
This wraps up our “Three Questions for Martina Hund-Mejean”. Martina thank you for taking the time to share your views with our stakeholders.
It is my pleasure, Cecilia.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.