NEW YORK--(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.
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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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.