Jackson Financial Inc. announced that Laura Prieskorn, president and chief executive officer, will retire at the end of 2026. Don Cummings, currently executive vice president and chief financial officer, will succeed her as president and CEO effective October 1. Cummings will also join the JFI board of directors on that date.
Brian Walta will succeed Cummings as EVP and CFO, also effective October 1. Prieskorn will remain as an advisor through December 31.
Prieskorn joined Jackson nearly 40 years ago and served as CEO through the company's demerger from former parent Prudential plc. Under her watch, full-year 2025 retail annuity sales reached a record $19.7 billion, up 10% year-on-year. Adjusted operating earnings for 2025 came to $22.67 per diluted share.
Board Chairman Steven A. Kandarian said she led the company through its post-demerger transition and oversaw growth during her tenure. Prieskorn said she has "every confidence" in Cummings and Walta leading Jackson through its next chapter.
Cummings has more than 30 years of industry experience. He joined Jackson in 2020 as chief accounting officer and controller and was promoted to CFO in 2024. Before Jackson, he served as interim CFO at Fortitude Reinsurance Company and as global corporate controller at American International Group, Inc.
"Jackson has a clear growth strategy and an exceptional team of associates who are dedicated to serving our customers, shareholders and the communities where we live and work," said Cummings. "I look forward to building on our momentum and positioning Jackson for continued, long-term success."
In January 2026, Jackson entered a 10-year investment management partnership with TPG Inc. Under the deal, TPG will manage a minimum of $12 billion in assets for Jackson, with a long-term target of $20 billion.
Walta has been with Jackson since 1997. He has led financial functions including hedging, asset liability management, capital modeling, and business plan forecasting. Walta holds a Chartered Financial Analyst certification, and is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.
Walta said he plans to focus on "maintaining strong financial stewardship, supporting the company's strategic growth priorities and delivering sustainable value for shareholders."
Jackson National Life Insurance Company, the main operating subsidiary of Jackson Financial Inc., is one of the largest providers of retirement annuities in the United States. The company distributes fixed and variable annuity products through a network of independent financial professionals.
