Ted Mathas Named as Next Chairman of New York Life, Effective June 1

President and CEO Ted Mathas has been named Chairman of the Board by the Board of Directors of New York Life Insurance Company, effective June 1, 2009.  He will succeed Sy Sternberg, 65, 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. Mr. Mathas, 41, has served as New York Life's president since July 2007 and chief executive officer since July 2008.  He will retain both titles upon assuming the chairman's role in June.

Mr. Mathas will be the 13th chairman of New York Life since the position was established in 1931.  He has been a director of the company since July 2006.  He is currently president and chief executive officer, responsible for running all aspects of the company, including all domestic and international business operations.  The domestic business includes life insurance, retirement income security, investments, long-term care insurance and related businesses, as well as the company's career agency system.  The international business includes operations in eight markets located in Asia and Latin America. He graduated with an A.B. from Stanford University, with distinction, in 1989.  He received a J.D. from the University of Virginia in 1992, where he was a member of the Virginia Law Review and the Order of the Coif.