Pacific Life Announces New Chief Financial Officer and Expansion of Management Committee

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Pacific Life today announced Vibhu Sharma as its next chief financial officer (CFO), effective April 11. Mr. Sharma succeeds Darryl Button as CFO, following Mr. Button’s appointment as Pacific Life’s president and chief executive officer (CEO). Mr. Sharma will report to Mr. Button and serve on Pacific Life’s management committee with responsibility for the development and implementation of Pacific Life’s corporate and financial strategies, as well as oversight of the actuarial, corporate finance, internal audit, enterprise risk management, and corporate development functions.

Mr. Sharma joins Pacific Life from Thrivent where he served as executive vice president, CFO, and treasurer. In this role, Mr. Sharma was responsible for the finance and actuarial organizations, as well as ensuring the organization’s financial strength and stability, and ability to deliver on financial promises. He also co-led Thrivent’s transformational efforts.

“Vibhu’s extensive expertise of the financial services and insurance industries, coupled with his proven track record of successful leadership roles, make him well-suited as our CFO,” said Darryl Button, president and CEO of Pacific Life. “His delivery of consistent operational and financial results, as well as leading the execution of business and digital transformation initiatives, make him a strong asset and we look forward to his leadership.”

Pacific Life also announced the expansion of Mr. Button’s management committee with the promotions of Tod Nasser to executive vice president and chief investment officer, Alessandro Papa to executive vice president and chief risk officer, and Brian Woolfolk to executive vice president and head of Institutional Division. David Howell, chief executive officer of the company’s reinsurance business, Pacific Life Re, was also named to the management committee.

Mr. Nasser oversees Pacific Life's general account portfolios. He leads the investment teams and advises Pacific Life’s business units on product design, investment opportunities, and hedging strategies.

Mr. Papa is responsible for the execution of the company’s risk strategy and oversees governance activities as chair of the Enterprise Risk Committee.

Mr. Woolfolk is responsible for the establishment, growth, and profitability of Pacific Life’s institutional product lines.

Mr. Howell leads Pacific Life Re, Pacific Life’s global reinsurance and retrocession business.

“Pacific Life remains committed to market leading growth backed by innovation, superior customer service and best-in-class investment and risk management capabilities,” said Button. “These appointments position Pacific Life well to continue to execute on these priorities.”

Current members of Pacific Life’s management committee include Mr. Button; Dawn Behnke, executive vice president, Life Insurance Division; Joe Celentano, executive vice president, Retirement Solutions Division; Adrian Griggs, executive vice president and chief operating officer; Jay Orlandi, executive vice president and general counsel; and Carol Sudbeck, executive vice president and chief administrative officer.

About Pacific Life

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Whether your goal is to protect loved ones or grow your assets for retirement, Pacific Life offers innovative products and services that provide value and financial security for current and future generations. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World’s Most Ethical Companies® by the Ethisphere Institute. For additional company information, including current financial strength ratings, visit www.PacificLife.com.

Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2021 is compiled by Pacific Life using the 2021 FORTUNE 500^® list.