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MassMutual Names New Chairman

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Massachusetts Mutual Life Insurance Company announced Dec, 18 that president and CEO Stuart Reese will become chairman of the MassMutual board effective January 1, 2007. Reese, 51, will replace James Birle, who has served as non-executive chairman since June 2005; Birle was named lead director of the board.

Reese joined MassMutual in 1993, and previously served as executive VP and CIO, and as chairman and CEO of Babson Capital Management.

Also, the company announced in November that it will distribute the largest-ever dividend in its 155-year history to its eligible policyholders for 2007–$1.25 billion, up 5.6% from 2006′s dividend payout.