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MetLife names next CEO

Michel Khalaf will become MetLife Inc.'s president and CEO on May 1, succeeding Steven Kandarian.

Khalaf was also appointed to the board, effective May 1. The retiring Kandarian will continue as chairman, president and CEO through April 30.

Khalaf became the company's president of Europe, the Middle East and Africa in 2011 and was given responsibility over MetLife's U.S. business in July 2017.

Glenn Hubbard will become MetLife's nonexecutive chairman upon Kandarian's retirement. Hubbard joined the MetLife board in 2007 and became lead director in June 2017.

Kandarian became president and CEO on May 1, 2011, and chairman of the board Jan. 1, 2012.