New York Life Insurance Co. announced Tuesday that it has promoted Ted Mathas to chief executive officer.
Mr. Mathas, 41, will remain the company's president, a position he has held since July 1, 2007.
As chief executive he succeeded Sy Sternberg, 65, who had been chairman and CEO since 1997. Mr. Sternberg will remain chairman of the board of directors in a nonexecutive capacity for a transition period.
Mr. Mathas has worked for New York Life since June 1995 as an officer in its asset management department. He became president of Eagle Strategies Corp., a registered investment subsidiary, in September 1996, and in May 1997 took on the additional position of president of N.Y. Life Securities Inc. He was promoted to senior vice president in September 1998 and in June 1999 became chief operating officer of New York Life's agency department.
He became chief operating officer for life and annuities at New York Life in April 2001 and was elected executive vice president in January 2004, when he was named co-head of its U.S. insurance operations.
