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Thrivent Announces Retirement Of Chief Financial Officer Randy Boushek
August 26, 2019 | Samantha Mehrotra, Public Relations Manager
Vibhu Sharma to join the organization as successor
MINNEAPOLIS (August 26, 2019) —Thrivent, a diversified financial services organization, announced Randy Boushek, senior vice president, chief financial officer and treasurer, has indicated his plans to retire mid-year 2020 after a 39-year career with the organization.
Thrivent also announced it has named Vibhu Sharma, who most recently served as CFO at Mutual of Omaha, to succeed Boushek as senior vice president, CFO and treasurer. Sharma will join Thrivent on Sept. 16, 2019.
Boushek’s retirement will be effective mid-2020, and until that time he will remain with the organization, serving as special advisor to Thrivent President and CEO Teresa Rasmussen.
“For the past 38 years, Thrivent has benefitted from Randy’s leadership, diligence and steadfast dedication to managing Thrivent’s finances to serve the needs of our membership,” Rasmussen said. “Thrivent’s financial strength and stability are a testament to Randy’s skill, integrity and stewardship.
“We’re fortunate to have found in Vibhu a successor who possesses the knowledge, skills and leadership experience that will enable us to build on Randy’s legacy to transform our business model to better serve our members today and attract a new generation of members tomorrow,” Rasmussen continued. “We’re grateful to Randy for his service, and we look forward to welcoming Vibhu to the organization.”
More about Randy Boushek
Boushek joined Thrivent-predecessor organization Lutheran Brotherhood in 1981 as an actuary. After holding a variety of positions in the organization, he was named senior vice president and chief investment officer in 1999. He was named treasurer in 2002 and CFO in 2004.
Boushek led the organization through periods of significant change. He co-led the financial integration of Aid Association for Lutherans and Lutheran Brotherhood, which merged in 2002 to form Thrivent. Boushek’s thoughtful stewardship enabled Thrivent to successfully weather the global financial crisis of 2008. He was named “CFO of the Year” by the Minneapolis/St Paul Business Journal in 2010. Under Boushek’s leadership, in 2014 Thrivent surpassed $100 billion in assets under management.
At the end of 2018, Thrivent held a record-high $10.7 billion in total adjusted surplus and $134 billion in assets under management and advisement. As of May 2019, credit rating agency AM Best rated the organization A++ (Superior), the highest of the credit rating agency’s 16 ratings. The ratings are based on Thrivent’s financial strength and claims-paying ability.
Boushek has been instrumental in the recent development of real estate located near Thrivent’s corporate center in Minneapolis. He is the executive sponsor of the development of Thrivent’s new Minneapolis corporate center, which is scheduled to be completed in summer of 2020.
Boushek currently serves as a board member of Concordia Plan Services in St. Louis. He previously served as a board member of the Minneapolis Regional Chamber of Commerce and the Minneapolis Downtown Council. He also recently completed his service as chair of the board for the Concordia College board of regents in Moorhead, Minn.
Boushek is a graduate of Concordia College, Moorhead, Minn. He is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries.
More about Vibhu Sharma
Sharma most recently served as executive vice president, CFO and treasurer of Mutual of Omaha.
Prior to that, he spent eight years with Zurich Insurance Group. At Zurich he served in global leadership roles including CFO in North America; Group Controller and Interim Group CFO in Switzerland; and CEO of Zurich’s UK General Insurance business and UK Country Head.
Before joining Zurich, Sharma worked for reinsurance firm Collins Associates, where he served as CFO and chief operating officer. At the beginning of his career, Sharma spent 17 years in public accounting at KPMG in Minneapolis, Dallas and Kansas City. He rose to partner while serving insurance companies in the U.S. and globally.
A graduate of Southern Methodist University, Sharma is a Certified Public Accountant (CPA).
Thrivent is a fraternal benefit society that helps Christians be wise with money. As a mission-driven, membership-owned organization, it offers its more than 2 million members and customers a broad range of financial products, services and guidance to help them obtain a life of contentment, confidence and generosity. Thrivent and its subsidiary and affiliate companies offer insurance, investments, banking and advice over the phone, online as well as through financial professionals and independent agents nationwide. Thrivent is a FORTUNE 500 company with $134 billion in assets under management/advisement (as of 12/31/18). For more than a century it has helped Christians make wise money choices that reflect their values while providing them opportunities to demonstrate their generosity where they live, work and worship. For more information, visit Thrivent.com. You can also find us on Facebook and Twitter.