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June 30, 2008 at 02:12 PM
A 41-year-old Stanford University alumnus who started out in the asset management department in 1995 Tuesday will become chief executive officer of the largest U.S. mutual life insurer.
Theodore Mathas will be succeeding Seymour Sternberg, 65, as CEO of New York Life Insurance Company, New York, the company says.
New York Life, which has 15,000 employees, 50,000 agents and about $280 billion in assets under management, announced the change in February.
Sternberg, who has been chairman and CEO of New York Life since April 1997, will continue to serve as chairman during a transition period, New York Life says.
Sternberg, the 2000-2001 chairman of the American Council of Life Insurers, Washington, recently became chairman of the board of Northeastern University.
