Jackson Financial has named Don Cummings as its next Chief Financial Officer, succeeding Marcia Wadsten. As part of the transition, Marcia Wadsten will assume a role as Senior Advisor beginning June 3. Cummings, who has served as Controller and Chief Accounting Officer since joining the company at the end of 2020, will assume the CFO role starting June 3. In light of Cummings’ promotion, Craig Anderson, currently the controller of Jackson Financial’s subsidiary, Jackson National Life Insurance, will succeed Cummings as Senior Vice President and Controller.
Cummings, a 60-year-old certified public accountant, brings a wealth of experience to his new role, having previously served as interim finance chief at Fortitude Reinsurance. Jackson Financial disclosed that Cummings’ compensation package includes a $640,000 base salary, an increased target bonus of 175% of his base salary, and an increased target annual long-term equity incentive award of $1.9 million.
Jackson Financial expressed confidence in Cummings’ ability to lead the finance function and praised Wadsten for her contributions to the company.
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