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MetLife announces new CEO taking reins in May

Michel Khalaf was named the new CEO and president of MetLife and will assume his new responsibilities May 1, a spokesman confirmed Tuesday.

Mr. Khalaf, who is now president, U.S. business and EMEA, succeeds Steven Kandarian, who will serve as chairman, president and CEO through April 30, the spokesman said.

Mr. Khalaf has been president of EMEA since 2011 and head of the company's U.S. business since July 2017.

Upon Mr. Kandarian's retirement, Glenn Hubbard, MetLife's independent lead director, will become non-executive chairman, as the company is splitting the responsibilities, the spokesman added.

MetLife is in the process of identifying Mr. Khalaf's successor or successors, the spokesman said.

MetLife Investment Management, the firm's institutional asset management affiliate, had $588 billion in managed assets as of Sept. 30, the spokesman confirmed.