Bruce Nicholson, Chairman, President and CEO of Thrivent Financial for Lutherans, Announces Plan to Retire

Bruce Nicholson, Chairman, President and CEO of Thrivent Financial for Lutherans, Announces Plan to Retire

MINNEAPOLIS--(BUSINESS WIRE)-- Bruce Nicholson, chairman, president, and CEO of Thrivent Financial for Lutherans, has announced his intent to retire before the end of 2010. The exact date of his departure has not yet been determined, but the Thrivent Financial for Lutherans Board of Directors has formed a selection committee to begin the process to find Nicholson’s replacement and also has retained an executive search firm to assist with the effort.

“This announcement is the next step in a planned succession initiative that had been put in place at the time of the merger of Aid Association for Lutherans and Lutheran Brotherhood so that Bruce could fulfill his desire to retire in his mid-60s.” said Kurt M. Senske, vice chairman of the Thrivent Financial for Lutherans Board of Directors.

“Under Bruce’s leadership, Thrivent Financial has successfully completed its merger integration and built a strong and stable financial services organization,” continued Senske. “Despite the recent economic turmoil in the United States, Thrivent Financial remains financially strong and Bruce has positioned Thrivent Financial for continued success.”

Nicholson began his career as an actuarial student with Lutheran Brotherhood in 1968. He left the organization in 1975 to serve as chief actuary of Ministers Life and Casualty Union. In 1982, he joined the Towers Perrin consulting firm, where he was later named a principal. He rejoined Lutheran Brotherhood in 1990 as executive vice president and chief financial officer. In 1997, Nicholson was promoted to chief operating officer and he was elected president of the organization in 1999. The following year he was named CEO.

In 2002, Nicholson spearheaded, with Aid Association for Lutherans CEO John Gilbert, the successful merger of Lutheran Brotherhood and Aid Association for Lutherans, two fraternal benefit societies, which came together to form Thrivent Financial for Lutherans. He attracted and developed a diverse senior management team, which helped lead the organization to the success it has achieved as the largest fraternal benefit society in the world. It included members from both predecessor organizations as well as those recruited from other organizations.

As a tax-exempt membership organization, Thrivent Financial has leveraged the money it would have otherwise paid in taxes by investing it in the communities in which it operates. Since the time of the merger, Thrivent Financial and its members have contributed more than $1 billion to communities, nonprofit organizations, and Lutheran institutions as well as other groups and individuals in need.

Under his leadership Thrivent Financial created “Thrivent Builds with Habitat for Humanity”, a four-year, $125 million alliance between Thrivent Financial for Lutherans and Habitat for Humanity® International (HFHI) designed to help address the complex issue of substandard housing. The relationship, in the form of house sponsorships and member and employee volunteerism, has helped Habitat for Humanity increase its annual house production by hundreds of homes per year in the United States and around the world.

“It is a privilege to serve our members and to lead Thrivent Financial for Lutherans,” said Nicholson. “Thrivent Financial has a bright future, and I am looking forward to working with my successor in making a smooth transition. I want to do everything I can to help us reach our goal of becoming the financial services provider of choice for Lutherans nationwide, while maintaining our ongoing commitment to our values of faith, family, stewardship, and service.”

About Thrivent Financial for Lutherans

Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.6 million members achieve financial security and give back to their communities. Thrivent Financial and its affiliates offer a broad range of financial products and services including life insurance, annuities, mutual funds, disability income insurance, bank products and more. As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need. For more information, visit www.thrivent.com.

Securities offered through Thrivent Investment Management Inc., 625 Fourth Ave. S., Minneapolis, MN 55415-1665, 800-THRIVENT (800-847-4836), a registered broker-dealer and investment adviser, and a wholly owned subsidiary of Thrivent Financial for Lutherans. Member FINRA and SIPC.

Insurance, investment products, securities, and trust and investment management services and accounts are not deposits, are not FDIC insured, are not insured by any federal government agency and are not guaranteed by Thrivent Financial Bank. Variable insurance contracts, investment products, securities, and trust and investment management accounts may go down in value.

Thrivent Financial for Lutherans

Brett J. Weinberg, 612-844-4272

[email protected]

Cell:612-219-3244

or

Stacy Eckes-Borys, 920-628-2445

[email protected]

Cell: 920-851-1510

Source: Thrivent Financial for Lutherans

Copyright Business Wire 2009 Bruce Nicholson, chairman, president, and CEO of Thrivent Financial for Lutherans, has announced his intent to retire before the end of 2010.