A 41-year-old lawyer will become chairman of the largest U.S. mutual life insurer June 1.
Theodore Mathas will be succeeding Seymour Sternberg, 65, as chairman of New York Life Insurance Company, New York, the company says.
Sternberg passed the title of chief executive officer on to Mathas in June 2008.
Mathas has been president of New York Life since July 2007, and he will keep that title as well as the CEO title, the company says. New York Life first announced the transition in February 2008.