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8-K - FORM 8-K - METLIFE INC | y93264e8vk.htm |
EX-99.1 - EX-99.1 - METLIFE INC | y93264exv99w1.htm |
Exhibit 99.2
Contacts:
|
For Media: | John Calagna | ||
(212) 578-6252 | ||||
For Investors: | John McCallion | |||
(212) 578-7888 |
STEVEN A. KANDARIAN NAMED
CHAIRMAN OF THE BOARD OF DIRECTORS OF METLIFE
CHAIRMAN OF THE BOARD OF DIRECTORS OF METLIFE
NEW YORK, October 31, 2011 The board of directors of MetLife, Inc. (NYSE: MET) announced that
Steven A. Kandarian will succeed C. Robert Henrikson as chairman of the board effective January 1,
2012. Kandarian was elected to the MetLife board on April 26, 2011 and became MetLifes president
and chief executive officer on May 1, 2011.
Steves leadership and determination to make MetLife not only the leader in the insurance industry
but a world-class company in all aspects of our operations made him the boards unanimous choice to
take on the responsibilities of chairman, in addition to his roles as president and CEO, said
MetLife Lead Director Cheryl W. Grisé. With his global strategic thinking, drive to make the
company truly customer focused and his deep knowledge of MetLifes risk management culture and
businesses, Steve is exceptionally qualified to lead the company to a new chapter of growth and
outstanding performance.
Steven A. Kandarian stated, I am deeply honored to take on the added responsibilities of chairman,
as our entire organization unites around a commitment to excellence in every aspect of our work.
We are emerging from a period of extraordinary global economic challenges with enhanced strength
and opportunities to extend MetLifes industry leadership and define a new standard of quality as
we meet the needs of our customers worldwide. I look forward to working with our board, our
management team, and our exceptionally talented employees and distribution partners to create value
for all of our stakeholders.
Kandarian, 59, joined MetLife as the companys chief investment officer in April 2005. As CIO, he
enhanced the companys focus on effective risk management and diversified its investment portfolio,
in part through the $5.4 billion sale of Peter Cooper Village/Stuyvesant Town in 2006. Under
Kandarians leadership, MetLife identified the housing bubble early and reduced the companys
exposure to sub-prime mortgage-backed securities, raised the overall quality of its
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corporate credit portfolio and increased its focus on low loan-to-value commercial and agricultural
mortgages.
In 2007, he oversaw a comprehensive review of MetLifes strategic initiatives, which resulted in
the identification of key areas of focus for MetLife to achieve revenue growth and expense savings.
In 2009, Kandarian assumed responsibility for MetLifes global brand and marketing services
department.
MetLife, Inc. is a leading global provider of insurance, annuities and employee benefit programs,
serving 90 million customers in over 50 countries. Through its subsidiaries and affiliates,
MetLife holds leading market positions in the United States, Japan, Latin America, Asia Pacific,
Europe and the Middle East. For more information, visit www.metlife.com.
This press release may contain or incorporate by reference information that includes or is
based upon forward-looking statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events.
These statements can be identified by the fact that they do not relate strictly to historical or
current facts. They use words such as anticipate, estimate, expect, project, intend,
plan, believe and other words and terms of similar meaning in connection with a discussion of
future operating or financial performance. In particular, these include statements relating to
future actions, prospective services or products, future performance or results of current and
anticipated services or products, sales efforts, expenses, the outcome of contingencies such as
legal proceedings, trends in operations and financial results.
Any or all forward-looking statements may turn out to be wrong. They can be affected by inaccurate
assumptions or by known or unknown risks and uncertainties. Many such factors will be important in
determining the actual future results of MetLife, Inc., its subsidiaries and affiliates. These
statements are based on current expectations and the current economic environment. They involve a
number of risks and uncertainties that are difficult to predict. These statements are not
guarantees of future performance. Actual results could differ materially from those expressed or
implied in the forward-looking statements. Risks, uncertainties, and other factors that might cause
such differences include the risks, uncertainties and other factors identified in MetLife, Inc.s
most recent Annual Report on Form 10-K (the Annual Report) filed with the U.S. Securities and
Exchange Commission (the SEC) and Quarterly Reports on Form 10-Q filed by MetLife, Inc. with the
SEC after the date of the Annual Report under the captions Note Regarding Forward-Looking
Statements and Risk Factors, MetLife, Inc.s Current Report on Form 8-K dated March 1, 2011 and
other filings MetLife, Inc. makes with the SEC. MetLife, Inc. does not undertake any obligation to
publicly correct or update any forward-looking statement if we later become aware that such
statement is not likely to be achieved. Please consult any further disclosures MetLife, Inc. makes
on related subjects in reports to the SEC.
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