(Bloomberg) -- MetLife Inc., the largest U.S. life insurer, said William Wheeler is stepping down as president of the Americas, the company’s biggest unit.
Wheeler, 53, the former chief financial officer who has led the Americas unit since 2011, will retire in August, the New York-based company said Tuesday in a statement that didn’t name a successor. Wheeler, who was named in February to the board of investment bank Evercore Partners Inc., said the statement that he would “pursue other interests.”
Wheeler helped integrate American Life Insurance Co., the insurer that had operations in more than 50 countries when MetLife bought it for about $16 billion in 2010. Then, in the America’s post, he oversaw the acquisition of Chilean pension provider AFP Provida SA while working to cut costs in the U.S. and scaling back risks tied to retirement products like variable annuities.
“Bill took on some of our biggest challenges, and he has done an excellent job delivering on them,” Chief Executive Officer Steve Kandarian, 63, said in the statement. “While Bill stays on to ensure a seamless transition, we will be reassessing the right structure and leadership for the Americas region.”
