Jackson National Life Insurance Company has appointed Vice Chairman and Chief Operating Officer Mike Wells as the new president and chief executive officer.
Wells will succeed Clark Manning, who will step down as CEO at the end of 2010. Manning will serve as chairman of parent company Prudential plc’s U.S. operations until April 30, 2011, at which time he will enter into an advisory role that will continue until the end of 2011. Wells will join the Prudential Board as an executive director in January 2011.
“I look forward to assuming the leadership of this great organization and continuing the strong legacy that Clark has established at Jackson,” Wells said in a statement. “Clark has admirably led Jackson to its current strong position in the market and I am excited to build upon that success. I view my appointment as an endorsement of the entire Jackson senior management team and the profitable growth we have been able to achieve together.”
Prudential plc Group Chief Executive Tidjane Thiam said Wells has a long and proven career at Jackson across all of the company’s U.S. operations, and was identified as the appropriate successor to Manning some time ago.