Thrivent announces executive leadership transition

Tuesday, 16 October 2018

Thrivent, a member of the International Cooperative and Mutual Insurance Federation (ICMIF) based in the USA, announced last week that Brad Hewitt (pictured, see here at the 2015 ICMIF Biennial Conference) will retire as CEO and Terry Rasmussen has been appointed as his successor.

"Brad has provided visionary leadership in moving Thrivent forward in its mission of serving the broader Christian community and ensuring the organisation has the tools and talent to meet the expectations of our members and position us for long-term growth," said Bonnie Raquet, Chair of the Thrivent Board of Directors.

"We wish Brad well as he moves to the next chapter of serving others and demonstrating faith through service," she said.

Rasmussen has served as President of Thrivent's core fraternal business unit for the last three years.

"Terry has distinguished herself as a strong leader with extraordinary business and legal acumen, as well as a deep understanding of Thrivent's charter as a fraternal benefit society," Raquet said.  Thrivent is the largest fraternal benefit society in the US.

"What's more, she has deep-seated values and a practical approach to aligning our workforce to serve our members and drive growth," Raquet added.

Shaun Tarbuck, Chief Executive, ICMIF, said: “I would like to express my great thanks to Brad for the commitment he has shown to ICMIF and our members during his time as Vice Chair of our Board. I also remain ever grateful for the amazing hospitality that Brad and his team extended to ICMIF and our delegates at the ICMIF Biennial Conference in 2015 when Thrivent hosted the event for us in Minneapolis. On behalf of all the team at ICMIF I would like to wish Brad every happiness and fulfilment in all his future endeavours.

“I would also like to congratulate Terry on her new role. My team and I have enjoyed working with Terry on a number of key projects up to now – including the B20 Financing Growth Taskforce – and we wish her every success as she takes up this new challenge,” he concluded.

More about Brad Hewitt

Hewitt joined Thrivent in 2003 as Chief Fraternal Officer.  He was named COO in 2008 and CEO in 2010.

He began his career with Securian (another US ICMIF member) in the Actuarial Services department. He held positions with increasing levels of responsibility at UnitedHealth Group and Diversified Pharmaceutical Services. He later felt called to serve in administrative roles with the Lutheran Church–Missouri Synod.

Hewitt graduated from the University of Wisconsin-River Falls with a Bachelor of Science in mathematics.

Hewitt currently serves as Vice Chair for the board of Habitat for Humanity International; and also for the ICMIF Board of Directors.

He also volunteers as Chair of Itasca, an employerled, cross-sector collaborative group that works to improve the quality of life for all in the Twin Cities of Minneapolis and St Paul; and is Vice Chair of Greater MSP (the Minneapolis St Paul Regional Economic Development Partnership).

More about Terry Rasmussen

Rasmussen joined Thrivent in 2005.  She was named President in 2015, after serving for 10 years as Senior Vice President, General Counsel and Secretary.

Before joining Thrivent, Rasmussen served in progressively responsible legal positions with American Express and Ameriprise Financial. At American Express she was responsible for global legal support of financial service products and services.

She began her legal career as a trial attorney in the U.S. Attorney General's Honours Program.

She received a BS in accounting from Minnesota State University-Moorhead and passed the CPA exam.  She earned her JD from the University of North Dakota.

Rasmussen is past chair of the American Fraternal Alliance, the trade association for fraternal benefit societies; and Lutheran Social Service of Minnesota.

She currently serves on the boards of the Walker Art Center and InFaith Community Foundation.