The Penn Mutual Life Insurance Company has appointed Eileen McDonnell as the new president to head day-to-day operations. She has also been elected to the company’s board of trustees.

Ms McDonnell joined Penn Mutual in February 2008 as executive vice president and chief marketing officer, and chairman of the board of hornor, Townsend and Kent. She is also a member of the Janney Montgomery Scott board of managers.

Previously, Ms McDonnell served as president of New England Financial, a wholly-owned subsidiary of MetLife and senior vice president at Guardian Life Insurance Company. She also held positions at AXA/Equitable. In addition, she was a member of master of science in management faculty at The American College, where she held chair for women and financial services.

Robert Chappell, chairman and CEO of Penn Mutual, said: “In just two years, Eileen McDonnell has made a significant impact on Penn Mutual, building a record of field and home office advocacy, fostering team work and enabling an environment of collaboration and leadership.

“Her strategic and tactical expertise has created positive momentum for the company. I have every confidence that Eileen will continue to pilot Penn Mutual toward a bright and promising future that is full of possibilities.”