New York Life announced today the culmination of a long-planned succession in the key executive position of chief financial officer. John Fleurant has been elected executive vice president and chief financial officer, effective July 1, 2013. Executive Vice President and Chief Financial Officer Michael Sproule, 65, will retire as scheduled on June 30, 2013, at which time Mr. Fleurant, 50, will begin serving as the company's chief financial officer.<br /><br />As CFO, Mr. Fleurant will report to New York Life Chairman and CEO Ted Mathas.<br /><br />Mr. Fleurant currently serves as Deputy CFO, a position he has occupied since October 2012 when the role was added to his other positions as senior vice president for finance and controller. As CFO, Mr. Fleurant will be responsible for the following departments: Controller's, Tax, Treasury, the Office of Risk Management and Chief Actuary, and Corporate Development, which includes planning, mergers and acquisitions, and rating agency relationships. He also has been named a member of New York Life's Executive Management Committee, which comprises the company's senior executive leadership and assists the CEO in setting policy for the company.<br /><br />Chairman and CEO Mathas said, "Over the past two and a half years, the Board and I have been impressed with the outstanding job John Fleurant has done leading the Controller’s, Tax and Treasury departments, as well as overseeing the company’s financial planning, accounting policy, and rating agency relationships. John has the right combination of experience, skill and insight for the complex role of CFO. For many months, Mike Sproule has worked closely with John and other key members of our finance leadership team to ensure a smooth transition of the CFO’s responsibilities."