Summary
MetLife Inc. announced a key executive change in its financial leadership through an 8-K filing on December 3, 2018. The company's Board of Directors has appointed Tamara L. Schock as the new Executive Vice President and Chief Accounting Officer, with her tenure officially commencing on March 4, 2019. This appointment signifies a strategic move to bring in experienced leadership to oversee the company's accounting functions. Ms. Schock's background includes significant experience as Chief Financial Officer at Exchange Income Corporation and a decade as a Partner at Deloitte. Her compensation package includes a base salary of $450,000, Restricted Stock Units valued at $310,000, and cash sign-on payments totaling $320,000, subject to forfeiture conditions tied to her tenure and reasons for departure. Additionally, she will receive comprehensive relocation benefits. This transition also includes a role change for the current Chief Accounting Officer, William O'Donnell, who will transition to Executive Vice President and Chief Financial Officer for the U.S. operations.
Key Highlights
- 1Appointment of Tamara L. Schock as Executive Vice President and Chief Accounting Officer, effective March 4, 2019.
- 2Ms. Schock brings substantial experience from her roles as CFO of Exchange Income Corporation and Partner at Deloitte.
- 3Ms. Schock's compensation package includes a $450,000 base salary, $310,000 in RSUs, and $320,000 in sign-on bonuses, with forfeiture clauses.
- 4Comprehensive relocation benefits are provided to Ms. Schock, also subject to repayment conditions.
- 5William O'Donnell will transition from Chief Accounting Officer to Executive Vice President and Chief Financial Officer for U.S. operations.
- 6The filing includes MetLife's press release announcing Ms. Schock's appointment as Exhibit 99.1.