Protective Life announced yesterday that its board of directors elected John D. Johns as the company’s Executive Chairman and Richard J. Bielen as the Company’s President and Chief Executive Officer, effective July 1, 2017.
“I am delighted by Rich Bielen’s election as the seventh CEO of Protective. Rich is immensely talented and has all the skills and attributes needed to successfully lead the Company in the future,” said Mr. Johns. “I’m confident that Protective will continue to grow and prosper under Rich’s leadership and that Protective’s best days lie ahead.”
“I am deeply honored to be elected CEO of Protective,” said Bielen. “With the solid foundation established under Johnny’s leadership, we are well-positioned to continue to grow and deliver on the promises to our customers and the communities we serve. I look forward to working with Dai-ichi, our distribution partners and the talented and committed people of Protective.”
Mr. Johns has been with Protective since 1993, first as Executive Vice President and Chief Financial Officer. He became CEO in 2002, and under his leadership, Protective’s market value grew from roughly $580 million to $5.6 billion in 2015. In 2015, Protective was acquired by Dai-ichi Life of Tokyo, Japan and became their United States platform.
During Mr. Johns’ tenure, Protective has distinguished itself in several respects, becoming:
- • An industry-leader in acquiring life insurance policies
- • A leader in digital innovation in its customer-focused retail franchise,
- • A respected supplier of product and services to its traditional distribution partners
Moreover, Protective is known for as a company where employees thrive in careers they love.
Mr. Johns’ involvement in civic and industry efforts includes serving as chair of the American Council of Life Insurers (ACLI), Birmingham Business Alliance, Business Council of Alabama, McWane Science Center, Innovation Depot, Boy Scouts of America – Greater Alabama Council, and many other organizations. Mr. Johns was elected to the Alabama Academy of Honor in 2013.
His philanthropic efforts are also extensive, serving in a leadership role in capital campaigns in support of many non-profits, including Innovation Depot, Railroad Park, Children’s Aid Society, the Birmingham Civil Rights Institute, Pre-School Partners and McWane Science Center. He is currently serving as the Co-chair of the $1 billion Campaign for UAB. During Mr. Johns’ time as CEO, the Protective Life Foundation has made contributions totaling almost $40 million to improve the quality of life in our communities.
Mr. Bielen joined Protective in 1991 as Vice President, Securities and became Chief Investment Officer in 2002. In this role, his oversight included a portfolio that started at $13.3 billion and grew to $27.9 billion in 5 years. He was named Vice Chairman and Chief Financial Officer in 2007, and also had overall responsibility for the Stable Value, Asset Protection, and Acquisitions businesses. He became a member of Protective’s Board of Directors in 2015, and in 2016 he was named President and Chief Operating Officer, assuming additional responsibility for the Life and Annuity business, Operations and Information Technology.
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