MetLife appoints interim Chief Accounting Officer

MetLife Inc. (NYSE:MET), a leading insurance company with a market capitalization of $56.2 billion and strong financial performance including a 22.9% return over the past year, announced changes to its executive team and board of directors in a recent SEC filing. According to InvestingPro data, the company maintains healthy profitability with a P/E ratio of 14.0x and has demonstrated consistent shareholder returns. Toby Srihiran Brown, currently the Executive Vice President and Global Head of Reinsurance, has been appointed as the interim Chief Accounting Officer effective March 15, 2025. This move follows the earlier announcement of Tamara L. Schock’s resignation from the role. Brown has been with MetLife since 2010 and has held various leadership positions, including Global Chief Auditor and Regional CFO roles in Asia and Europe.

In addition to this executive shift, MetLife’s board has expanded from thirteen to fourteen members with the election of Christian Mumenthaler. He will join the board and its Finance and Risk Committee as well as the Investment Committee starting May 1, 2025. The company’s strong governance is reflected in its 26-year track record of consistent dividend payments, with a current dividend yield of 2.6% and a 4.8% dividend growth in the last twelve months. Mumenthaler has been determined to be an independent director and will partake in the company’s standard compensation arrangements for non-management directors.

These announcements, based on the company’s SEC filing, reflect MetLife’s ongoing adjustments to its leadership structure. The company has not disclosed any arrangements or understandings behind Brown’s selection, emphasizing that there are no family relationships between Brown and any current directors or executive officers. The search for a permanent Chief Accounting Officer is still underway.

Investors and stakeholders of MetLife can expect continuity in the company’s financial oversight with Brown’s extensive experience within the company. The addition of Mumenthaler to the board is also anticipated to bring valuable insights to the company’s financial and investment strategies. InvestingPro analysis shows the company maintains a solid financial position with a current ratio of 1.54, indicating strong liquidity. Discover more comprehensive insights and 8 additional ProTips about MetLife’s financial health and future prospects through InvestingPro’s detailed research reports.

In other recent news, MetLife reported mixed fourth-quarter results, matching analyst expectations with earnings per share of $2.09 but experiencing a decline in total revenues. The company posted a net income of $1.2 billion, a significant rise from the previous year, and adjusted earnings of $1.5 billion, marking a 7% increase. Despite these gains, the market showed concern over specific segments, as net investment income and derivative losses impacted the overall financial performance. Analysts from firms like TD Cowen and Jefferies maintained buy ratings, highlighting a potential downside to 2025 EPS estimates while expressing confidence in MetLife’s strategic outlook.

Additionally, MetLife announced a quarterly dividend of $0.545 per share, emphasizing its commitment to shareholder value. In governance news, the company elected Christian Mumenthaler, former CEO of Swiss Re (OTC:SSREY), to its board, leveraging his extensive industry experience. MetLife also disclosed the upcoming departure of Executive Vice President and Chief Accounting Officer Tamara L. Schock, who is leaving for personal reasons. The company has yet to announce her successor.

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