MINNEAPOLIS —Thrivent, a Fortune 500 diversified financial services organization, announced today that N. Cornell Boggs, III has been elected by the Board of Directors to serve as its next chair. His term will be effective on Feb. 1, and he will succeed Bonnie E. Raquet, Thrivent’s first-ever female chair of the board, who will conclude her board service after holding this important leadership position since 2018.
“Cornell has been an invaluable member of Thrivent’s Board of Directors for nearly a decade, and we’ve greatly benefited from his leadership, vast business experience and passion for helping Thrivent's clients achieve financial clarity, enabling lives full of meaning and gratitude. Along with the Board of Directors, I look forward to continuing our work with Cornell in his expanded leadership role as he guides Thrivent into our next phase of growth,” said Terry Rasmussen, president and CEO of Thrivent. “I also want to extend a sincere thank you to Bonnie for her board leadership over the past five years. Bonnie played an integral role in Thrivent's client-first, digital-first transformation and under her guidance, Thrivent continues to be financially strong and stable, well-positioned to grow so we can meet the needs of our clients today and into the future.”
Boggs has been a member of the board since 2013 and most recently served as vice-chair, chair of the Governance committee and as a member of the Human Resources, Strategy and Executive Committees.
"I'm deeply honored and humbled to serve as Thrivent's next board chair," said Boggs. "Thrivent is one of the original purpose-driven companies in America, having served Christians as a member-owned fraternal benefit society for more than 100 years. It offers industry-leading financial advice, products, and service that put clients at the center, a strong team culture and an unmatched commitment to inspiring generosity and making a positive community impact. I believe we have an incredible opportunity to grow Thrivent across the country and with more diverse clients, serving more families with expert advice, investments, insurance, banking and generosity programs and solutions that differentiate Thrivent in the marketplace."
With his appointment, Boggs becomes one of approximately 25 Black leaders to have served as a Fortune 500 CEO or Chair.
Boggs is currently a senior strategic advisor for Quarles & Brady, LLP, a national, multi-disciplinary legal services firm. He previously served as a senior advisor for BarkerGilmore, LLC, a corporate legal advisory firm. In addition, Boggs has served in executive-level roles at Toys ‘R’ Us, Inc., Dow Corning Co., MillerCoors, Coors Brewing Co. and Tyco Plastics & Adhesives. He began his career as a judicial clerk for the Indiana Court of Appeals, followed by an appointment in the Attorney General’s Honor Program, where he served as a trial attorney with the U.S. Department of Justice. Boggs is also an Emeritus member of the Valparaiso University board, where he served as a director for eighteen years.
Boggs was recognized in 2009 as one of the 150 Most Influential People in Valparaiso University’s 150-year history. He also received a Burton Award as a Legend in the Law in 2017. Most recently, he was named by Savoy magazine in 2021 as one of the Most Influential Black Corporate Directors for his distinguished leadership and service to Thrivent’s Board. In 2022, Savoy named him as one of the Most Influential Black Lawyers in recognition of his accomplishments as a general counsel and corporate secretary, experienced in all aspects of corporate management and oversight.
He earned a bachelor’s degree in journalism with distinction from Valparaiso University and a Juris Doctor from the Valparaiso University School of Law.
Thrivent is a diversified financial services organization that helps people achieve financial clarity, enabling lives full of meaning and gratitude. Thrivent and its subsidiary and affiliate companies serve more than 2.3 million clients, offering advice, insurance, investments, banking and generosity products and programs over the phone, online as well as through financial professionals and independent agents nationwide. Thrivent is a Fortune 500 company with $189 billion in assets under management/advisement (as of 12/31/21). Thrivent carries ratings from independent rating agencies which demonstrate the strength and stability of the organization, including an A++ rating from AM Best; an Aa2 rating from Moody’s Investors Service; and an AA+ rating from S&P Global Ratings. Ratings are based on Thrivent’s financial strength and claims-paying ability, but do not apply to investment product performance. For information on these ratings, visit the rating agency's website. For more information about Thrivent, visit