Roger Crandall to succeed Stuart Reese who will serve as non-executive chairman

Massachusetts Mutual Life Insurance Company (MassMutual) has appointed Roger Crandall as new CEO, effective from January 1, 2010. He succeeds Stuart Reese, who will serve as non-executive chairman of the board of directors.

Mr Crandall, who has been president and chief operating officer, will also retain the title of president. He has joined MassMutual in 1988 and spent 12 years in the company’s investment management department. In 2000, he joined Babson Capital Management, a MassMutual subsidiary. In 2002, he was named managing director at Babson Capital and head of the company’s corporate bond management, public bond trading and institutional fixed income units.

In 2005, Mr Crandall was appointed as chairman of Babson Capital and executive vice president and chief investment officer of MassMutual. In 2007, he was appointed as co-chief operating officer of MassMutual. He was named president and chief operating officer in December 2008, at which point he joined the board of directors.

Mr Crandall said: “As a mutual company operating for the benefit of our policyholders, our entire organization – including our leadership team, employees and financial professionals – is committed to continuing the long tradition of financial strength, security and stewardship we have provided to our policyholders since we were founded in 1851.”