Terry Rasmussen
President and Chief Executive Officer
Executive
2 yr
23 reports
Thrivent Financial
Mutual insurer run through centralized enterprise executives
Financials · Fortune #388 · Functional structure · 4K employees · Minneapolis, Minnesota
8
CEO span
↓ tighter than peers (avg 11)
2.6
Avg span
moderate
3
Max depth
3 levels
4.3 yr
Avg tenure
50%
Internal hires
near industry avg
Interactive org chart
Thrivent Financial organizational chart
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Mutual insurer Thrivent Financial runs a highly centralized enterprise structure, with all major functions reporting directly to the CEO rather than autonomous business units. This page maps its executive org chart, functional teams, leadership metrics, recent changes, and peer comparisons.
What to model
Use the chart to test org decisions, not just view reporting lines
Start with the public baseline, then use the scenario views and source-backed changes to ask what happens when leadership, span, or team ownership shifts.
Latest signal Terry Rasmussen joined as President and Chief Executive Officer
Appointed CEO in 2023 following the retirement of Glenn Prance.
Source · See change logScenario views in the chart
- Add Chief AI Officer Create a Chief AI Officer role reporting to the CEO to coordinate data, automation, and AI use across insurance and investments.
- Move Investments under CFO Shift the Chief Investment Officer to report to the CFO to further centralize balance-sheet and capital management.
Atlas work this supports
- Connect Workday or UKG Get these analytics for YOUR org — tenure, span of control, headcount, automatically from your HRIS.
- Connect Salesforce Map your target accounts like this. Import contacts, visualize decision chains, plan multi-threading.
- Plan a Reorg Use this as a starting point. Model scenarios, compare structures, present options to your board.
The people
Who's running this
8 executives identified as Named Executive Officers in the most recent SEC proxy. Bar length scales with tenure.
Open Role
Chief Operating Officer
Operations
1 yr
2 reports
Open Role
Chief Information Officer
Technology
3 yr
3 reports
internal
Paul Stuewe
Executive Vice President and Chief Financial Officer
Finance
6 yr
3 reports
Open Role
Chief Marketing and Member Experience Officer
Marketing
5 yr
2 reports
Open Role
Chief Investment Officer
Investments
6 yr
2 reports
Open Role
Chief Human Resources Officer
Human Resources
4 yr
2 reports
internal
Open Role
Chief Legal Officer and Corporate Secretary
Legal
7 yr
2 reports
The businesses
How Thrivent Financial divides the work
5 divisions report into the group CEO. Tile size scales with estimated headcount.
Finance
300 employees
Executive Vice President and Chief Financial Officer (Paul Stuewe)
Oversees financial reporting, treasury, tax, and enterprise financial planning.
Investments
250 employees
Chief Investment Officer (Open Role)
Manages the general account investment portfolio supporting insurance liabilities.
Operations
1K employees
Chief Operating Officer (Open Role)
Runs policy administration, client service, and distribution operations.
Technology
800 employees
Chief Information Officer (Open Role)
Owns core insurance platforms, digital tools, cybersecurity, and infrastructure.
Marketing & Member Experience
250 employees
Chief Marketing and Member Experience Officer (Open Role)
Leads brand, member engagement, and experience design across channels.
The thesis
Why this org is unusual
Thrivent Financial is structured as a centralized enterprise organization rather than a product- or subsidiary-led insurer.
All major functional leaders — finance, investments, operations, technology, people, marketing, and legal — report directly to the CEO, with no autonomous business-unit CEOs.
This structure reflects Thrivent’s mutual ownership model, where enterprise consistency, capital stewardship, and member experience take precedence over divisional P&L autonomy. Investments and insurance operations are governed through functional VPs rather than separate life, health, or annuity presidents.
The result is a relatively flat, functionally aligned leadership model that emphasizes coordination and risk control, but places a broad coordination burden on the CEO and enterprise staff functions.
- No standalone business-unit CEOs
- Investments led as a core enterprise function
- Functional control consistent with mutual ownership
The comparison
How Thrivent Financial stacks up
Compared with other large mutual or member-owned financial institutions, Thrivent is more centralized and functionally driven. Peers like Northwestern Mutual and New York Life also favor enterprise control, but often elevate product or distribution presidents closer to the CEO. Publicly traded insurers such as MetLife …
C-suite size
Thrivent Financial
8
New York Life
11
13
Principal Financial Group
11
Reporting depth
Thrivent Financial
3 levels
4 levels
New York Life
5 levels
6 levels
6 levels
Principal Financial Group
5 levels
Avg C-suite tenure
Thrivent Financial
4 yr
New York Life
7 yr
5 yr
Principal Financial Group
5 yr
Has COO / Has CAIO
Thrivent Financial ✓ COO — no CAIO
New York Life ✓ COO — no CAIO
Principal Financial Group ✓ COO — no CAIO
Current signals
What changed recently
The most significant recent change was Terry Rasmussen’s appointment as CEO in 2023, followed by continued enterprise centralization of operations.
- Date not confirmed newTerry Rasmussen President and Chief Executive Officer
Appointed CEO in 2023 following the retirement of Glenn Prance.
Source - Date not confirmed reorgEnterprise Operations Operating model reorganization
Operations and technology functions further centralized under enterprise leadership in 2024.
Source
Frequently Asked Questions
Who is the CEO of Thrivent Financial?
Thrivent Financial is led by Terry Rasmussen, who has served as President and CEO since 2023.
What type of organizational structure does Thrivent Financial use?
Thrivent uses a centralized functional enterprise structure rather than autonomous business-unit divisions.
How many direct reports does Thrivent Financial's CEO have?
The CEO has eight direct reports, all leading major enterprise functions.
How has Thrivent Financial's leadership changed recently?
The company appointed Terry Rasmussen as CEO in 2023 and continued consolidating operations at the enterprise level in 2024.
Who reports directly to Thrivent Financial's CEO?
The CEO’s direct reports include the CFO, CIO, COO, CHRO, CMO, Chief Legal Officer, and Chief Investment Officer.
Sources
- Company Newsroom, 2023
- Company Updates, 2024
Reference
Cite this page
If you reference this page in research, analysis, or news writing, use one of the formats below. Citation includes the SEC filing source where applicable.
APA 7th
Creately. (2026). Thrivent Financial organizational structure. Creately. Retrieved , from https://creately.com/org-chart/fortune-500/thrivent-financial/MLA 9th
"Thrivent Financial Organizational Structure." Creately, April 1, 2026, https://creately.com/org-chart/fortune-500/thrivent-financial/. Accessed .Chicago 17
Creately. "Thrivent Financial Organizational Structure." Last modified April 1, 2026. https://creately.com/org-chart/fortune-500/thrivent-financial/.Permanent URL: https://creately.com/org-chart/fortune-500/thrivent-financial/ · last updated 2026-04-01