METLIFE BOARD OF DIRECTORS ELECTS DR. R. GLENN HUBBARD INDEPENDENT LEAD DIRECTOR
New York, April 26, 2017
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 to1993.
“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.
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.
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