Ted Mathas will assume the position of Chairman of the Board of New York Life Insurance Co. on Monday, June 1. He will be the company's 13th chairman, and will retain the title of CEO and president of the company.

Mathas became New York Life's CEO on July 1, 2008, and president on July 1, 2007. He succeeds Sy Sternberg, who had remained chairman of the board  in a non-executive capacity since his retirement on June 30, 2008 after 19 years of service with the company, including 12 years as chairman. 

“I’m honored to become chairman of New York Life, which is committed to delivering on our promises to millions of policyholders and maintaining the most successful career agency system in the United States," Mathas said. "I’m especially proud of how our company has prepared for and withstood the global financial crisis.”

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