A changing of the guard will take place, effective June 1, at New York Life Insurance Co. President and CEO Ted Mathas today was named chairman of the board by the board of directors. He will succeed Sy Sternberg, New York Life’s chairman since April 1, 1997, who completes the longest tenure of any New York Life chairman since the position was established in 1931.

Mathas has served as New York Life’s president since July 2007, and CEO since July 2008. He will retain both titles upon assuming the chairman’s role in June.  

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