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Thomas Schievelbein Appointed Lead Director of New York Life’s Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
New York Life announced the appointment of Thomas Schievelbein as Lead Director of its Board, effective July 1, 2022. Schievelbein, who has extensive experience as former CEO of Brink’s Company and president of Northrop Grumman Newport News, has served on New York Life’s Board since 2006. His leadership is expected to significantly benefit the company. New York Life is the largest mutual life insurer in the U.S., providing life insurance, retirement income, and more, with top financial strength ratings from major credit agencies.
Positive
Appointment of Thomas Schievelbein as Lead Director could enhance leadership effectiveness.
Schievelbein's extensive background may bring fresh perspectives to New York Life's strategic direction.
Negative
Concerns about continuity due to the leadership change.
NEW YORK--(BUSINESS WIRE)--
New York Life, America’s largest1 mutual life insurer, today announced the appointment of Thomas Schievelbein as Lead Director of New York Life’s Board of Directors, effective July 1, 2022. Thomas Schievelbein was the chairman, president, and chief executive officer of the Brink’s Company and was also the president of Northrop Grumman Newport News. He has served on New York Life’s Board since 2006 and Mr. Schievelbein is a member of the Governance Committee, the Investment Committee and the Talent, Diversity & Compensation Committee. Mr. Schievelbein also serves on the board of Huntington Ingalls Industries Inc.
“Tom Schievelbein is an invaluable member of the Board and New York Life will benefit greatly from his leadership, business experience and in-depth knowledge as Lead Director,” said Ted Mathas, chairman of New York Life’s Board.
Mr. Schievelbein is a past member of the Secretary of the Navy’s Advisory Panel and was a director of the U.S. Naval Academy Foundation from 2004 through 2012. He received a Bachelor of Science degree in Marine Engineering from the U.S. Naval Academy and a Master’s Degree in Nuclear Engineering from the University of Virginia.
ABOUT NEW YORK LIFE
New York Life Insurance Company (www.newyorklife.com), a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States1 and one of the largest life insurers in the world. Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life has the highest financial strength ratings currently awarded to any U.S. life insurer from all four of the major credit rating agencies2.
1 Based on revenue as reported by “Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual),” Fortune magazine, 5/23/2022. For methodology, please see http://fortune.com/fortune500/.
2Individual independent rating agency commentary as of 9/30/2021: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).
