Kathleen Lutito, Lumen Technologies CIO, to Retire in May

Kathleen Lutito, president and CIO of Lumen Technologies’ corporate defined benefit plan, CenturyLink Investment Management, will retire effective May 3, a spokesperson for the company told CIO. When Lutito retires, she will have been at the company for 27 years.

As of December 31, 2023, Lumens defined benefit plan had 24,000 active employee participants, 55,000 active and retired employees eligible for healthcare benefits, and 28,000 retirees and former employees with vested pension benefits, according to the company’s most recent 10-k. Lumen’s defined benefit plan currently has $25 billion in assets.

“[Lutito], and her team has managed assets ranging from $11-25 billion across multiple employee benefit trusts and provided mentorship across the company and the industry. She will be sorely missed as she makes time to serve on various boards and enjoy traveling and spending more time with family and friends.” the spokesperson said.

In the role, Lutito will be succeeded by Flora Li Hedrick, who is currently the head of private investments at MissionSquare Retirement.

Lutito and Lumen Technologies/CenturyLink Investment Management were honored by CIO at the 2021 Industry Innovation Awards, winning in the category of corporate defined contribution plans. She is also a member of CIO’s Power 100 list.

“Markets and the industry are evolving much faster than they have in the past,” Lutito told CIO in 2021. “We’re getting more data than we ever have; technology is making everything move faster as well. When I look to the future, the role of the CIO is going to be more important than it ever has been because it will be up to the CIO to look at all of the innovations and all of the wobbles and make a decision.”

Lutito began her career at the Colorado Public Employees Retirement System, and later worked at Denver Investment Advisors, where she was a portfolio manager. She holds a Bachelor of Arts in Business Administration and Management from Western Colorado University and a master’s in finance from the University of Colorado, Denver.