MetLife Director David Herzog to Step Down in May

NEW YORK – MetLife Inc (NYSE:MET). announced the upcoming departure of board member David L. Herzog, who has decided to resign effective May 1, 2025. The announcement, based on a press release statement, came after Herzog informed the board of his decision not to stand for re-election at the company’s 2025 annual meeting of shareholders. The news comes as MetLife maintains its position as a prominent player in the insurance industry, with InvestingPro data showing a robust market capitalization of $54 billion and a healthy P/E ratio of 13.2.

Herzog’s resignation from the board of the life insurance giant was not due to any disagreements with MetLife’s operations, policies, or practices. The company’s filing with the U.S. Securities and Exchange Commission on Thursday confirmed that the departure was a personal decision.

MetLife, headquartered at 200 Park Avenue, New York, is a leading provider of insurance and financial services. It is listed on the New York Stock Exchange under the ticker MET and also has several series of preferred stock listed.

The company’s SEC filing also included standard exhibits, such as the Cover Page Interactive Data File, but did not provide additional details on the reasons behind Herzog’s departure or on any potential successors to his position on the board.

Investors and industry watchers will be looking to see how MetLife navigates this transition in its leadership. Herzog’s resignation will take effect just before the annual meeting, where shareholders would typically vote on the election of directors.

The announcement comes as part of the standard disclosure requirements for publicly traded companies, ensuring transparency in the governance of the firm. MetLife has not yet indicated any changes to its executive team or strategic direction as a result of Herzog’s upcoming resignation.

As the company prepares for its annual meeting, the focus will likely remain on maintaining stability and continuity within its leadership structures. The board and management will be expected to communicate any further developments regarding this transition in due course.

In other recent news, MetLife Inc. has issued $1 billion in subordinated debentures due 2055, as detailed in a recent SEC filing. This financial move aligns with the company’s ongoing capital management efforts. Additionally, MetLife has secured $1.25 billion through a private placement transaction involving Pre-Capitalized Trust Securities, providing the company with flexible funding options over a thirty-year period. In executive news, MetLife announced the appointment of Toby Srihiran Brown as interim Chief Accounting Officer following Tamara L. Schock’s resignation. The company also expanded its board of directors with the election of Christian Mumenthaler, former CEO of Swiss Re (OTC:SSREY), effective May 1, 2025. Mumenthaler’s extensive experience in the insurance and reinsurance industries is expected to contribute to MetLife’s strategic initiatives. These developments reflect MetLife’s ongoing adjustments to its financial structure and leadership team.

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