MetLife’s Steven Kandarian Made $8.9 Million In First Full Year As CEO

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MetLife Chairman and CEO Steven A. Kandarian was compensated $8.96 million last year, his first full year as head of the nation’s largest life insurance company, according to documents filed Monday with the U.S. Securities and Exchange Commission.

Kandarian saw his pay package increase 96 percent last year over the $4.58 million he received in 2011, not including stock-and-option awards which have a future value, and also not including growth in his pension fund.

He was promoted May 1, 2011, from chief investment officer to CEO of the Metropolitan Life Insurance Co., and also became chairman on Jan. 1, 2012. Kandarian grew up in West Hartford and graduated from Hall High School.

His compensation last year comprises: $1 million salary, $4.2 million in non-equity incentive pay, $313,016 in “other compensation” and $3.38 million in value realized on stocks vested. Separately, Kandarian received $7.7 million in stock-and-option awards for which he will receive value in future years.

Chief Financial Officer John C.R. Hele’s pay package was $1.1 million last year, not including $1.99 million in stock-and-option awards that have a future value and depend on the company’s performance.

Executive vice president and former interim Chief Financial Officer Eric T. Steigerwalt was compensated $2 million last year, not including $779,018 in stock-and-option awards that have a future value and depend on the company’s performance.

President of the company’s Americas business, William J. Wheeler, had a pay package of $6.55 million, not including $2.95 million in stock-and-option awards that have a future value and depend on the company’s performance.

President of the company’s Europe, Middle East and Africa business, Michel Khalaf, was compensated $3.43 million, not including $1.1 million in stock-and-option awards that have a future value and depend on the company’s performance.

Chief Investment Officer Steven J. Goulart was compensated $2 million, not including $1.64 million in stock-and-option awards that have a future value and depend on the company’s performance.

About Matthew Sturdevant

Full-time staff journalist at The Hartford Courant and magazine freelancer with a master's degree in writing from Dartmouth. My work has appeared in The Los Angeles Times, The Chicago Tribune, Taiwan News, The Baltimore Sun and many other news sources. My blog has been referenced by Politico.com, the Kaiser Family Foundation, the Georgetown Law Library and a number of organizations in healthcare and business. Sturdevant’s blog is "a well-written wealth of ideas," said The Donald W. Reynolds National Center for Business Journalism, (businessjournalism.org, May 18, 2011). I have experience writing for newspapers, magazines, Web sites and blogs as well as shooting and editing video. I made regular appearances on news-talk radio and on the NBC affiliate station in Corpus Christi, Texas. I made occasional appearances on the Fox affiliate in Connecticut promoting Hartford Courant articles.

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3 thoughts on “MetLife’s Steven Kandarian Made $8.9 Million In First Full Year As CEO

  1. Paul E. Bahre

    Glad to see your doing well, would be nice if you left some jobs in CT but hey I understand it’s hard to do business here after all this Socialist state of CT, would not leave you with so much personal wealth and they would probably raid the coffers of you company. Just wishing that’s all.

  2. Monica

    And because of our position, I repeatedly would take food that was uneaten on a family member’s plate to add into the bucket. Desperate times, distressed procedures.
    finance dissertations

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