Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  MetLife    MET

METLIFE (MET)
Mes dernières consult.
Most popular
  Report  
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

MetLife : trims compensation for CEO, CFO in year marked by errors

share with twitter share with LinkedIn share with facebook
share via e-mail
0
04/26/2018 | 07:06pm CEST
A MetLife Inc  building is shown in Irvine, California

(Reuters) - MetLife Inc reduced total 2017 compensation for its chief executive and chief financial officer, a year marked by two key errors, including payments it failed to make to pensioners whom it could not locate, according to a filing on Thursday.

(Reuters) - MetLife Inc reduced total 2017 compensation for its chief executive and chief financial officer, a year marked by two key errors, including payments it failed to make to pensioners whom it could not locate, according to a filing on Thursday.

MetLife CEO Steven Kandarian received total compensation of $14.7 million, a 3.6 percent drop from $15.3 million he received in 2016, MetLife said in its proxy filing.

Total compensation for the New York-based insurer's CFO, John Hele, dropped by 6.4 percent, to $5.3 million from $5.7 million, according to the filing, a change that reflects MetLife's "performance in managing financial matters, including material weaknesses in internal control over financial reporting," MetLife said.

MetLife revealed two errors in 2017, including internal failures that resulted in the insurer not making payments to 13,500 pensioners whose plans MetLife took over from private companies.

The problem, which MetLife is in the process of trying to fix by locating and paying the pensioners, stretched back 25 years, the company said in January.

In February, the company had to boost reserves by $510 million pretax because it had previously released funds for its obligations to the pensioners.

In March, MetLife said it uncovered a reserve miscalculation for a Japanese annuity product during a review it launched in late 2017 and completed early this year.

"MetLife did not live up to the high standards we set for ourselves," Kandarian wrote in his annual letter, also on Thursday.

The company reduced a cash annual incentive compensation award for each of the two executives by 25 percent to $3 million for Kandarian and $1.5 million for Hele.

MetLife also considered MetLife's total shareholder return in its analysis, it said.

(Reporting by Suzanne Barlyn)

By Suzanne Barlyn

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on METLIFE
04/26METLIFE : trims compensation for CEO, CFO in year marked by errors
RE
04/26METLIFE FOUNDATION : Announces Sponsorship of “Multipliers of Prosperity&r..
BU
04/26METLIFE : Cuts Compensation for CEO, CFO in Year Beset by Snafus
DJ
04/25METLIFE : Increases Second Quarter 2018 Common Stock Dividend By 5%
AQ
04/24METLIFE : Increases second quarter 2018 common stock dividend by 5 percent
PU
04/24METLIFE : Increases Second Quarter 2018 Common Stock Dividend By 5 Percent
BU
04/24METLIFE : New Philly-based fund helps U.S. landlords boost green power, water
AQ
04/22METLIFE : Collab Winners Are ‘Building a Long-Term Relationship’ wit..
AQ
04/20METLIFE : Names Susan Greenwell as Head of Global Government Relations
BU
04/19METLIFE : Investment Management Reaches Record $11.2 Billion in Private Debt Ori..
AQ
More news
News from SeekingAlpha
04/2621 Dividend Increases To Check Out 
04/24MetLife declares $0.42 dividend 
04/17Why Every Investor Should Analyze Free Cash Flow 
04/11DIVIDEND STREAKS IN DANGER : April Edition 
04/05A Macro Case For Financials 
Financials ($)
Sales 2018 63 152 M
EBIT 2018 6 207 M
Net income 2018 4 899 M
Debt 2018 -
Yield 2018 3,42%
P/E ratio 2018 10,29
P/E ratio 2019 9,32
Capi. / Sales 2018 0,79x
Capi. / Sales 2019 0,77x
Capitalization 49 583 M
Chart METLIFE
Duration : Period :
MetLife Technical Analysis Chart | MET | US59156R1086 | 4-Traders
Technical analysis trends METLIFE
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 55,0 $
Spread / Average Target 14%
EPS Revisions
Managers
NameTitle
Steven Albert Kandarian Chairman, President & Chief Executive Officer
Timothy J. Ring Chief Operating Officer & Senior Vice President
John C. R. Hele Chief Financial Officer & Executive Vice President
Martin J. Lippert Executive VP-Global Technology & Operations
Jacki Goldstein Chief Medical Officer
Sector and Competitors
1st jan.Capitalization (M$)
METLIFE-5.83%49 583
AXA-5.34%69 379
PRUDENTIAL-2.70%68 005
PRUDENTIAL FINANCIAL-6.82%45 200
MANULIFE FINANCIAL CORP.-6.94%37 694
AFLAC2.92%35 204