Eileen McDonnell is now the chief executive officer of Penn Mutual Life Insurance Company.

McDonnell succeeds Robert Chappell as CEO of Penn Mutual, Horsham, Pa. Chappell will continue to be the chairman of the company’s board.

McDonnell began working for Penn Mutual as the company’s chief marketing officer in February 2008. She has been president of New England Financial, a unit of MetLife Inc., New York (NYSE:MET).

McDonnell is member of the board of LL Global Inc., Windsor, Conn., the holding company for LIMRA International and LOMA.

McDonnell has a bachelor’s degree from Molloy College in Rockville Centre, N.Y., and a master’s degree in finance from Adelphia University.

–Allison Bell