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Thrivent announces 2020 board election results

MINNEAPOLIS – Thrivent, a Fortune 500 diversified financial services organization, recently announced the results of its 2020 national board of directors election. As a membership-owned organization, Thrivent clients with eligible membership have an opportunity to select the candidates who will represent them on the national board of directors.

Thrivent’s board consists of 13 members and is led by Bonnie E. Raquet, chair of the board. As the organization’s supreme governing body, the board oversees all matters involving Thrivent and focuses on serving the interests of our clients, now and into the future. Thrivent continues to be financially strong and stable, well-positioned to grow and serve more clients. In 2020, Thrivent’s assets under management grew to $162 billion and crossed $8.5 billion in total revenue.

Three incumbents reelected to board of directors
Incumbents Bonnie E. Raquet, N. Cornell Boggs III and Kenneth A. Carow were reelected to serve another term, starting in February 2021. Raquet has been a member of the Thrivent Board of Directors since 2010 and was elected to serve as chair of the board, effective February 2018. She also serves as chair of the Executive committee and as a member of the Governance committee. Boggs joined the board in December 2013 and currently serves as vice-chair of the board. He also is chair of the Governance committee and is a member of the Human Resource and Executive committees. Carow was elected to the board in February 2013 and serves on the Finance and Audit committee and the Human Resource committee.

“I’m delighted our members have reelected Bonnie, Cornell and Ken to serve another term,” said Terry Rasmussen, president and CEO of Thrivent. “In their years of board service, they’ve demonstrated an unwavering commitment to helping Thrivent fulfill its purpose and promise. With their continued leadership, we’re well-positioned to accelerate our transformation and grow to serve more clients, helping them achieve financial clarity, enabling lives full of meaning and gratitude.”

Frederick G. Kraegel retires from the board
Frederick G. Kraegel retired from the board of directors due to term limits. He served as a member of Thrivent’s board since 2008. Kraegel served as chair of the Investment committee and was a member of the Strategy and Executive committees.

“During his tenure on the board, Fred provided distinguished leadership and strong business and financial expertise, helping ensure Thrivent remains strong and stable to deliver on its promises,” said Bonnie Raquet, chair of the board. “He provided oversight and guidance during a time of tremendous change for Thrivent, and we thank him for his many years of dedicated service. His contributions have had a direct and meaningful impact on our organization.”

A complete readout of the election results can be found here.

For more information on Thrivent’s Board of Directors and to read member biographies, visit:

About Thrivent

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 $162 billion in assets under management/advisement (as of 12/31/20). Thrivent carries an A++ (Superior) rating from AM Best, a credit rating agency; this is the highest of the agency’s 16 ratings categories and was affirmed in June of 2020. Rating based on Thrivent’s financial strength and claims-paying ability. Does not apply to investment product performance. For more information, visit You can also find us on Facebook and Twitter.