Wheeler to step down as head of MetLife’s Americas unit
April 15, 2015 by IFAwebnews Staff
William Wheeler, president of the Americas at MetLife Inc., will step down as leader of the life insurance company’s largest unit in August.
Many thought the 53-year-old former chief financial officer who has led the Americas unit since 2011, would be MetLife’s next chief executive officer.
Wheeler said in a statement issued by MetLife that he will retire this summer to “pursue other interests.”
A successor was not named.
A former banker at Donaldson, Lufkin & Jenrette, Wheeler was named in February to the board of Evercore Partners Inc., a firm that advises on mergers and acquisitions.
Wheeler helped integrate American Life Insurance Co. into New York-based MetLife when it was purchased for about $16 billion in 2010. American Life had operations in more than 50 countries.
“Bill took on some of our biggest challenges, and he has done an excellent job delivering on them,” CEO Steve Kandarian, 63, said in the statement. “While Bill stays on to ensure a seamless transition, we will be reassessing the right structure and leadership for the Americas region.”
MetLife has a mandatory retirement age of 65, unless an exemption is made by its board.