MetLife Board of Directors Elects Dr. R. Glenn Hubbard Independent Lead Director
April 26 2017 - 4:15PM
Business Wire
MetLife, Inc. (NYSE: MET) today announced that its board of
directors has elected Dr. R. Glenn Hubbard, 58, independent lead
director. Dr. Hubbard’s election is effective June 13, 2017, the
date of the company’s 2017 annual shareholders meeting. Dr.
Hubbard’s re-election as a director will be among those subject to
shareholder approval at the annual meeting. Dr. Hubbard would
succeed Cheryl W. Grisé, who will continue to serve as a board
member.
Dr. Hubbard joined MetLife, Inc.’s board in 2007. Since 2004,
Dr. Hubbard has been the Dean and Russell L. Carson Professor of
Economics and Finance for Columbia University’s Graduate School of
Business. From 2001 to 2003, Dr. Hubbard was chairman of the
President’s Council of Economic Advisers, an agency within the
Executive Office of the President of the United States. Dr. Hubbard
was Deputy Assistant Secretary for Tax Policy for the U.S. Treasury
from 1991 to 1993.
“I am pleased that Glenn has been elected to become our next
independent lead director,” said Steven A. Kandarian, chairman,
president and CEO, MetLife, Inc. “Glenn has extensive policy and
financial regulatory experience and is a tremendous asset to the
board. I look forward to working closely with him as MetLife
transforms itself into a simpler, more focused company that can
perform well in a variety of economic environments.”
An independent member of the board, Dr. Hubbard currently chairs
the Investment Committee and serves on the board’s Executive and
Finance & Risk committees. He will join the Governance and
Corporate Responsibility Committee, remain a member of the
Investment and Executive committees, and leave the Finance &
Risk Committee.
He also serves on the boards of Automated Data Processing, Inc.
and BlackRock Closed-End Funds. He is a member of numerous
professional and civic organizations including the Economic
Advisory Panel for the Federal Reserve Bank of New York, the
Committee on Capital Markets Regulation, and the Advisory Board of
the National Center on Addiction and Substance Abuse.
Dr. Hubbard received a bachelor of arts and bachelor of science
from the University of Central Florida and a doctorate and master
of arts in economics from Harvard University.
“I also want to extend my thanks to Cheryl for her service as
MetLife’s independent lead director,” added Kandarian. “She will
continue to be a great asset to the board and to MetLife’s
shareholders.”
Grisé joined MetLife’s board in 2004 and has served as
independent lead director since 2010.
About MetLife
MetLife, Inc. (NYSE: MET), through its subsidiaries and
affiliates (“MetLife”), is one of the largest life insurance
companies in the world. Founded in 1868, MetLife is a global
provider of life insurance, annuities, employee benefits and asset
management. Serving approximately 100 million customers, MetLife
has operations in nearly 50 countries and holds leading market
positions in the United States, Japan, Latin America, Asia, Europe
and the Middle East. For more information, visit
www.metlife.com.
Forward-Looking Statements
This news 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,” “will,” “would,”
“transform,” and other words and terms of similar meaning, or are
tied to future periods, 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"),
any 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," 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 MetLife, Inc. later becomes 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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