Tom Stoddard
PRUDENTIAL FINANCIALAbout Tom Stoddard
Independent director of Prudential Financial (PRU) since June 30, 2025; serves on the Audit and Investment Committees. He brings 35+ years across insurance, asset management, investment banking, private equity, and advisory, including vice chair of Global Investment Banking at Bank of America, group CFO roles at Athora and Aviva plc, and crisis advisory at Blackstone for AIG; JD (University of Chicago Law) and BA in economics (Swarthmore, McCabe Scholar) .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Bank of America | Vice Chairman, Global Investment Banking | Not disclosed | Expanded insurance advisory capabilities |
| Athora Ltd. | Group Chief Financial Officer | Not disclosed | CFO of European life/pensions group |
| Aviva plc | Group CFO and Board Member | 2014–2019 | Executive and board-level financial leadership |
| McKinsey & Company | Senior Advisor | Not disclosed | Advised financial institutions |
| Blackstone | Senior Managing Director | Not disclosed | Advised AIG on rescue/restructuring during GFC |
| Barrett Ellman Stoddard Capital Partners | Managing Partner | Not disclosed | Private equity investment/advisory |
| Cravath, Swaine & Moore | Corporate Lawyer (early career) | Not disclosed | Legal foundation in corporate transactions |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Aviva plc | Board Member (while Group CFO) | 2014–2019 | Public company board experience |
Board Governance
| Item | Detail |
|---|---|
| Appointment date | June 30, 2025 |
| Independence | Independent director |
| PRU committees | Audit; Investment |
| Audit/Investment committee mandates | Audit: oversight of accounting, controls, legal/regulatory/cyber and overall risk governance; Investment: oversight of acquisition/management/disposition of invested assets and investment risks/performance |
| Board meeting cadence & attendance (context) | 9 Board meetings in 2024; director attendance 99% overall (not specific to Stoddard) |
| Independent sessions | Independent directors meet in executive session, chaired by the Lead Independent Director |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual cash retainer | $150,000 | May be deferred at director’s option |
| Annual equity retainer (RSUs) | $180,000 | Effective Jan 1, 2025; vest after one year or next annual meeting |
| New director equity grant (one-time) | $180,000 | RSUs vest after one year |
| Committee membership fees | None | PRU does not pay committee membership fees; chair fees only |
| Chair fees (if applicable) | Audit: $40,000; Compensation & Human Capital: $35,000; Other committees: $25,000 | Stoddard is a member, not a chair |
| Lead Independent Director fee (not applicable) | $60,000 | Role-specific |
| CSR Oversight Committee meeting fee (if appointed) | $1,250 per meeting | Requires committee membership |
| Deferred Compensation Plan | Available | Cash/vested equity may be notionally invested in PRU stock units or a money market option; dividends credited and reinvested |
Performance Compensation
| Element | Structure | Performance metrics |
|---|---|---|
| Director equity | Time-vested RSUs | None; directors do not receive performance-conditioned equity, options, or annual bonuses |
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public company boards | None disclosed beyond PRU |
| Prior public company boards | Aviva plc (while serving as Group CFO) |
| Potential interlocks/conflicts | Not disclosed; PRU’s Related Party Transaction policy requires Corporate Governance & Business Ethics Committee review/approval of any related party transactions >$120,000 and specifies arm’s-length terms for ordinary-course dealings with institutions tied to directors |
Expertise & Qualifications
- Deep insurance CFO experience (Aviva; Athora) aligned with PRU’s life, annuity, and retirement businesses .
- Transactional and restructuring expertise (Blackstone role advising AIG; BoA investment banking leadership) valuable for Audit and Investment oversight .
- Legal and advisory background (Cravath; McKinsey) enhances governance and risk oversight literacy .
- Formal committee placement on Audit and Investment indicates alignment with financial expertise .
Equity Ownership
| Item | Detail |
|---|---|
| Beneficial ownership | Not disclosed for Stoddard as of his June 2025 appointment |
| Stock ownership guideline | Required to hold PRU stock or deferred stock units equal to 6× annual cash retainer, to be satisfied within 6 years of joining the Board |
| RSU vesting | Annual and new-director RSUs vest after one year or upon next annual meeting |
| Deferral & dividends | Dividend equivalents on RSUs are credited and reinvested in additional stock units under the Deferred Compensation Plan |
Governance Assessment
- Board effectiveness: Stoddard’s audit-quality finance experience and capital markets background strengthen Audit/Investment oversight amid PRU’s ongoing reinsurance and capital-efficiency strategy .
- Independence & conflicts: He is designated independent; PRU’s robust related-party policy and committee oversight mitigate conflict risks; no Stoddard-specific related-party transactions disclosed .
- Director pay alignment: Mix emphasizes equity (55% in 2025), plus strict stock ownership guidelines and deferral options, aligning directors with shareholder outcomes .
- Shareholder confidence signals: 2024 “Say-on-Pay” support fell to 72.74%, prompting the Board to add “guardrails” to performance share programs and cap BVPS-related payouts—evidence of responsiveness to investor feedback (context for governance culture) .
- RED FLAGS: None disclosed specific to Stoddard (no attendance issues, no related-party transactions, no hedging/pledging disclosures); monitor ordinary-course relationships with financial institutions given his prior roles, per PRU policy .