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Protective Announces Management Changes — Richard J. Bielen Named President and Chief Operating Officer

Tuesday, January 5, 2016 8:01 am EST

Dateline:

BIRMINGHAM, Ala.

BIRMINGHAM, Ala.--(BUSINESS WIRE)--Protective Life Corporation (“Protective”, “Company”) today announced that Richard J. Bielen, the Company’s current Vice Chairman and Chief Financial Officer, has been named President and Chief Operating Officer of the Company.

In his new role, Mr. Bielen will have added responsibilities for life and annuity sales and information technology in addition to his current management responsibility for acquisitions, the asset protection segment, financial reporting, and internal audit. Mr. Bielen joined Protective in 1991 with responsibility for the Company’s securities portfolio. He became Chief Investment Officer and Treasurer in 2002 and has served as Vice Chairman and Chief Financial Officer since 2007.

John D. Johns, Protective’s Chairman and Chief Executive Officer, said: “Rich has a long track record of leadership, success and accomplishment at Protective. He has been a strong and major contributor to the success we have enjoyed in recent years. The Board of Directors and I have every confidence that Rich will flourish in his new role and make an even greater strategic contribution to the company’s future success in fulfilling our mission to protect the financial security of our customers and provide a great place for our employees to work.”

Protective also announced other changes among its executive officers:

Michael G. Temple has been named Executive Vice President, Finance and Risk and Chief Risk Officer. Mr. Temple’s responsibilities will continue to include enterprise risk management while expanding his responsibilities to include product actuarial, corporate capital modeling, treasury and finance activities for Protective. Mr. Temple has served as Executive Vice President and Chief Risk Officer since 2012.

Steven G. Walker has been named Executive Vice President, Chief Financial Officer and Controller. He will continue leading the accounting function at Protective in addition to his position as Chief Financial Officer. Mr. Walker joined Protective Life in 2002 and has served as the Chief Accounting Officer and Controller since 2003.

D. Scott Adams has been named Executive Vice President, Chief Administrative Officer. Mr. Adams will expand his responsibilities to include internal and external communications and a leadership role in Protective’s strategic planning process and strategic relationships for the Company. Mr. Adams will continue his overall responsibility for Protective’s human resource function, a position he has held since he joined Protective in 2006.

Deborah J. Long has been named Chief Legal Officer in addition to her position as Executive Vice President, General Counsel and Secretary for the Company.

Long-time key contributor to Protective’s success, Carl S. Thigpen, will continue in his position as Executive Vice President and Chief Investment Officer.

Johns continued, “I’m very proud of the strong growth and exceptional results Rich and our entire management team have delivered in a very challenging business environment. With the encouragement and strong support of our new global parent, Dai-ichi Life Insurance Company, Limited, we are now positioned to deploy advanced technological capabilities and strategies that we expect to transform how we engage and serve consumers in our industry. This is a very exciting time at Protective. I’ve never been more confident about our future.”

ABOUT PROTECTIVE LIFE CORPORATION

Protective Life Corporation is headquartered in Birmingham, Alabama. The Company provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. It has annual revenue of approximately $4.4 billion and as of December 31, 2014, had assets of approximately $70.5 billion.

Contact:

Protective Life Corporation
Eva Robertson, 205-268-3912
Vice President, Corporate Communications

Media Contact

Eva Robertson
Vice President, Corporate Communications
205-268-3912
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