Lincoln Financial Group (NYSE: LNC) announced that Steven Budzynski has joined the company as senior vice president and head of Procurement, effective today. Central to his role in the newly created position, Budzynski, 48, is responsible for implementing a companywide sourcing, purchasing and procurement strategy. He reports directly to Randy Freitag, executive vice president and chief financial officer.
"Steven is an accomplished executive with 25 years of global strategic sourcing and supply management experience," said Freitag. "He has a proven track record of implementing strategic programs that align with business objectives. This move places increased strategic focus on the procurement process and is designed to increase performance and drive greater cost savings."
Prior to joining Lincoln Financial, Budzynski served as director of North America Sourcing and Procurement for Tyco International. He also spent more than a decade at GlaxoSmithKline, where he served as director of Procurement Transformation Program Management, director of Global IT Procurement and vice president of Corporate Services and Operations Procurement.
Budzynski earned a master’s degree in Business Administration from Drexel University and a bachelor’s degree in Industrial Management from the University of Oklahoma. He holds Certified Purchasing Manager and Certified Professional in Supply Management accreditations from the Institute for Supply Management. Budzynski is also a member of the SAP Procurement Executive Council, and he earned an Operational Excellence Green Belt certification in 2006.
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $186 billion as of March 31, 2013. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, disability and dental insurance; employer-sponsored retirement plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.lincolnfinancial.com.