MetLife CEO Kandarian to retire after 8 years in the role
MetLife Inc. said Tuesday Chief Executive Steven Kandarian will retire, on April 30, after eight years in the role and 14 years with the company. The insurer said it named Michel Khalaf, currently president of U.S. Business and EMEA, as its CEO, effective May 1. MetLife's stock was still inactive in premarket trade. Since May 1, 2011, when Kandarian became CEO, through Monday, MetLife's stock has gained 2.0%, while the SPDR S&P Insurance ETF has climbed 89% and the S&P 500 has rallied 87%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.