Summary
MetLife, Inc. filed an 8-K report on December 1, 2005, detailing a significant leadership transition. The report announced the retirement of its Chairman and Chief Executive Officer, Robert H. Benmosche, with his CEO role ending on March 1, 2006, and his Chairman role concluding after the Annual Shareholder Meeting on April 25, 2006. This transition was previously signaled in April 2005, with C. Robert Henrikson identified as the successor. The company's Board of Directors has elected C. Robert Henrikson, currently President and Chief Operating Officer, to succeed Benmosche as President and Chief Executive Officer, effective March 1, 2006. Henrikson will also assume the role of Chairman of the Board following the 2006 Annual Shareholder Meeting. Henrikson has held various leadership positions within MetLife since 1999, most recently as President and COO since June 2004, indicating a planned and internal succession strategy.
Key Highlights
- 1Robert H. Benmosche, Chairman and CEO, announced his retirement, effective March 1, 2006 (CEO) and April 25, 2006 (Chairman).
- 2C. Robert Henrikson, current President and COO, has been elected President and CEO, effective March 1, 2006.
- 3C. Robert Henrikson will also become Chairman of the Board, effective April 25, 2006.
- 4This executive succession plan was previously announced on April 26, 2005.
- 5Henrikson has a long tenure at MetLife, holding significant leadership roles since 1999, including President of U.S. Insurance and Financial Services and President of Institutional Business.
- 6The company is undertaking a smooth, internal leadership transition.
- 7No immediate determination has been made regarding changes to Henrikson's employment continuation agreement due to the new role.