Roger Crandall has been elected chairman of the board of Massachusetts Mutual Life Insurance Co. (MassMutual) by the company's board of directors, effective Dec. 28, 2010.
Crandall, who has been president and CEO since Jan. 1, 2010 and will retain both titles, succeeds Stuart Reese, who will retire as non-executive chairman and board member.
"It is an honor to serve our policyholders as the next chairman of MassMutual," said Crandall. "I look forward to working closely with our board of directors and the dedicated employees of this great company as we continue to build on our distinguished history. I have been fortunate to follow Stu Reese, who reinforced our proven focus as a mutual life insurance company operating for the benefit of our policyholders. Stu's emphasis on our core strengths enabled us to retain our extremely strong financial and competitive position during the most volatile economic times, and we will continue to benefit from his tenure here for a long time to come."
Reese noted that his retirement marks the end of a smooth and orderly transition that began when Crandall was named as his successor in June 2009.
"The Board was unanimous in its confidence that Roger is ideally suited to lead MassMutual as Chairman, President and CEO," Reese said. "Roger has a keen sense of what has distinguished MassMutual during its 159 years, and that perspective, together with his personal integrity, strategic vision, and keen focus on the customer, will serve the company and its policyholders well."
Prior to his appointment as CEO, Crandall served as president and COO of MassMutual, a position he held since December 2008 when he also joined the board of directors. He served as EVP and CIO of MassMutual from June 2005 to November 2008, and also was appointed co-COO in June 2007.
Crandall first joined MassMutual in 1988, and held several positions in the company's investment management department before joining Babson Capital Management LLC, a MassMutual subsidiary, where he ultimately served as chairman.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access