Theodore Mathas, 42, will become chairman of New York Life Insurance Company Monday.
Mathas has been president of New York Life, New York, since July 2007, and he succeeded Seymour Sternberg as chief executive officer of the company in July 2008. He now will take the title of chairman, carrying out a succession plan first announced almost a year ago.
Sternberg 65, has been chairman of New York Life since April 1997. After he retires from that post, he will continue to be the 2008-2009 chairman of the Northeastern University board.