FOR IMMEDIATE RELEASE
Pacific Life Announces Key Leadership Promotions
Adrian Griggs Named Chief Operating Officer, Darryl Button named Chief Financial Officer, and
Carol Sudbeck Named Chief Administrative Officer
Newport Beach, Calif. (September 29, 2016) - Pacific Life Insurance Company today announced updates to its executive leadership team. Adrian Griggs, currently executive vice president and chief financial officer (CFO), has been appointed chief operating officer. Effective March 2017, Darryl Button will join Pacific Life from Aegon N.V., a multinational life insurance, pensions and asset management company, to serve as chief financial officer. Carol Sudbeck, senior vice president, corporate, has been appointed chief administrative officer.
"We’ve made excellent progress in executing our strategy and are confident that with this new structure, we will be well positioned to better capitalize on existing and new growth opportunities," said Jim Morris, chairman, president and CEO.
Adrian Griggs, Executive Vice President as Chief Operating Officer
In his new role effective January 1, 2017, Mr. Griggs will be responsible for leading efforts to enhance the coordination of the company’s Life Insurance Division and Retirement Solutions Division, including growth, innovation, customer strategies, and operational efficiencies. A part of his focus will be to look to leverage synergies between the company’s retirement and life insurance product lines. Additionally, he will continue his focus on growing the asset management business through Pacific Asset Advisors LLC.
In his 22 years with Pacific Life, Mr. Griggs has served as a key member of the company’s management committee and has been instrumental in strengthening the company’s financial position.
Darryl Button, Executive Vice President as Chief Financial Officer
Mr. Button will oversee the corporate finance and accounting organizations as well as the audit function, enterprise risk management, and business development units. He will play an essential role in the development and implementation of Pacific Life’s corporate and financial strategies.
Mr. Button has been with Aegon N.V. since 1999, serving in an executive role for the past 11 years, including as CFO and a member of the executive board. Additionally, Mr. Button served as head of Aegon N.V.’s corporate financial center, and chairman for the company’s Canadian operations. He is also a Fellow of the Society of Actuaries.
Carol Sudbeck, Executive Vice President as Chief Administrative Officer
Effective January 1, 2017, Ms. Sudbeck will oversee all non-financial corporate areas, including legal, human resources, facilities, corporate information technology, brand management, and public affairs. In this role, she will be responsible for enhancing service levels to Pacific Life’s divisions, increasing coordination within areas, operational efficiencies, and building out capabilities within each of the functional areas.
Ms. Sudbeck has been an officer with Pacific Life since 1996, and has spent 22 years with the organization. She serves on the management committee and is vice chairman of the Pacific Life Foundation.
About Pacific Funds
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2016 is compiled by Pacific Life using the 2016 FORTUNE 500® list.