New York – Ted Mathas was named CEO-elect by the board of directors of New York Life Insurance Co. He will succeed Sy Sternberg, who has been CEO for more than a decade, upon Sternberg’s retirement on June 30, 2008. Beginning July 1, Sternberg will remain chairman of the board of directors in a non-executive capacity, for a transition period.
Mathas has served as New York Life’s president since June 2007, and COO since May 2006. He will retain the president’s title upon assuming the chief executive’s role in July.
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