Lincoln Financial Group (NYSE:LNC) announced today that Robert W. Dineen, 63, will retire from his position as vice chairman of Lincoln Financial Network (LFN), effective May 1, 2013. Dineen began his career at Lincoln Financial in 2002, when he was named president and CEO of LFN. He transitioned into the role of vice chairman late last year, and he has been helping the company since that time to develop and refine long-term strategies at both the distribution and corporate levels. At the time he retires, Dineen will join the Board of Directors for the Lincoln Life & Annuity Company of New York.
"Throughout his tenure at Lincoln, Bob has always been a trusted partner and a respected leader. On behalf of the Board of Directors and all Lincoln Financial employees, I would like to thank him for his many years of dedicated service and countless contributions to our success," said Dennis R. Glass, president and CEO of Lincoln Financial Group. "Among his many accomplishments, Bob built a tremendous distribution business that ultimately grew into the second-largest independent Broker-Dealer. He cemented his legacy further by not only forming a strong executive leadership team that will take Lincoln into the future, but also by forever influencing the value our advisors bring to their clients."
Announcing Dineen’s formal retirement and transition to the Lincoln Life & Annuity Company of New York board completes a planned succession process that began last October when the company realigned its distribution organization by forming Lincoln Financial Group Distribution (LFGD).
The new structure, which remains under the direction of Will H. Fuller, (42), president of LFGD, combines into one organizational unit the company’s retail and third-party, wholesale distribution systems. Both distribution lines remain separate and distinct businesses within the structure, with existing management leading LFD, and David S. Berkowitz, (49), leading LFN.
"Distribution and the partnerships we have with advisors, agents, brokers and consultants remain important pieces of how we run our businesses, how we create value for Lincoln, and how we deliver a distinct client experience," Glass said. "We will keep tapping into this powerful franchise to both drive our strategies and continue to set Lincoln apart from its competitors."
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 $178 billion as of December 31, 2012. 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.