Brighthouse Financial, Inc. Appoints Eileen Mallesch and Margaret McCarthy as Members of the Board
November 16, 2018 at 04:24 pm
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On November 15, 2018, the Board of Directors of Brighthouse Financial, Inc. appointed Eileen Mallesch and Margaret McCarthy (each, a New Director") as members of the Board. Ms. McCarthy was appointed to fill the Board vacancy created by John McCallion's previously announced resignation from the Board on September 20, 2018, and was accordingly designated as a Class III Director with a term of office expiring at the Company's 2020 annual meeting of stockholders. She was also appointed to serve on the Audit and the Finance and Risk Committees of the Board. Ms. Mallesch was appointed following the Board's action on November 15, 2018 to increase the number of directors serving on the Board from eight to nine. Ms. Mallesch was designated as a Class II Director with a term of office expiring at the Company's 2019 annual meeting of stockholders and was also appointed to serve on the Compensation, the Nominating and Corporate Governance, and the Investment Committees of the Board. Before retiring in 2009, she served as President and Chief Financial Officer for the property and casualty segment of Nationwide Mutual Insurance Company.
Brighthouse Financial, Inc. is annuities and life insurance provider. The Companyâs segments include Annuities, Life, and Run-off. The Annuities segment consists of a variety of variable, fixed, index-linked and income annuities designed to address contract holderâs needs for protected wealth accumulation on a tax-deferred basis, wealth transfer and income security. The Life segment consists of insurance products and services, including term, universal, whole, and variable life products designed to address policyholdersâ needs for financial security and protected wealth transfer, which may be on a tax-advantaged basis. The Run-off segment consists of products that are separately managed, including universal life with secondary guarantees, structured settlements, pension risk transfer contracts, certain Company-owned life insurance policies and certain funding agreements. Its mortgage loans are principally collateralized by commercial, agricultural, and residential properties.