New York Life CEO Named

New York Life's board of directors has named Ted Mathas to succeed Sy Sternberg as the carrier's CEO, effective July 1. Mathas, who has been president of New York Life since June 2007 and chief operating officer since May 2006, will retain the title of president upon assuming the CEO role. Sternberg, New York Life CEO for over a decade, will remain as non-executive chairman.

"As we looked ahead toward my scheduled retirement at age 65, the Board had time to plan " and I had time to assist in " an orderly and seamless transition so that the company doesn't miss a beat," said Sternberg. "Ted is a superb choice for CEO. Since joining us in 1995 Ted has contributed to virtually every facet of New York Life, including our life and annuity products, distribution systems and services, and our international operations."

Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio