NEW YORK (AP) — MetLife Inc. said Monday that its chief investment officer will become the insurance company's next president and CEO in May.

Steven A. Kandarian will replace C. Robert Henrikson, who will reach the company's mandatory retirement age for management executives next year. Henrikson, 63, will remain chairman through 2011. He has been CEO since 2006.

Kandarian, 59, who is also an executive vice president, will be nominated for the MetLife board at the annual shareholder meeting in April. The company said he will become CEO on May 1.

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