The head of a large insurer has decided to step down.
John Boscia, now the chairman and chief executive officer of Lincoln National Corp., Philadelphia, will retire Sept. 1, the company says.
J. Patrick Barrett, a longtime director and head of a private investment firm, will take over as chairman, and Dennis Glass, the company’s president and chief operating officer, will take over as CEO, Lincoln National says.
Glass was president of Jefferson Pilot Corp., Greensboro, N.C., when Lincoln National took over that company in April 2006.
Boscia will be available to help Barrett and Glass until he retires, but Barrett and Glass “will assume their new responsibilities immediately,” Lincoln National says.