The board of directors of MetLife, Inc. announced that Michel A. Khalaf, president, U.S. Business and EMEA, will become MetLife's president and chief executive officer on May 1, 2019. Khalaf also has been appointed to the MetLife board effective May 1, 2019. Steven A. Kandarian, who is retiring, will continue to serve as chairman, president and CEO through April 30, 2019.

Glenn Hubbard, currently MetLife's independent lead director, will become MetLife's non-executive chairman upon Kandarian's retirement. Hubbard joined the MetLife board in 2007 and became lead director in June 2017. Since 2004, Hubbard has been the Dean and Russell L. Carson Professor of Economics and Finance at Columbia University's Graduate School of Business, and from 2001 to 2003, he was chairman of the President's Council of Economic Advisers.

Khalaf has been MetLife's president of EMEA since 2011 and in July 2017 added responsibility for the company's U.S. Business. In his expanded role, he has overseen the Group Benefits, Retirement & Income Solutions, and Property & Casualty businesses in the United States; Global Employee Benefits (GEB), MetLife's only horizontal business providing employee benefits solutions to local and multinational employers in 39 markets; and individual and group insurance businesses sold through agents, brokers, banks and direct channels in more than 25 countries throughout Europe, the Middle East and Africa.