National Life CEO MacLeay Announces Retirement

first_imgNational Life Group CEO Announces RetirementMontpelier, Vermont (June 10, 2008) – Thomas H. MacLeay announced today that he will retire by year’s end as President and Chief Executive Officer of National Life Group(r). MacLeay will remain as Chairman of the Board of the financial services company.”National Life is strong,” said MacLeay, 58. “This is an excellent time to make the transition to new leadership.”MacLeay, a Vermont native who has worked at National Life for 32 years, has served as President of the company for a total of 11 years and CEO and Chairman for the past six years.”I have accomplished what I set out to do six years ago, which was to strengthen the company’s financial foundation, diversify and grow its businesses, and build an executive team superbly qualified to continue to move the organization forward,” said MacLeay.National Life Group(r), a Fortune 1000 company, serves more than 700,000 customers. With 2007 revenue of $1.4 billion and net income of $109 million, the companies of National Life Group(r) have roughly 900 employees, with most located at the Group’s home office in Montpelier, Vermont. Group companies also maintain offices in Dallas, New York, San Francisco, Boston and Philadelphia.National Life Group(r) (NLGroup) includes its flagship company, National Life Insurance Company, founded in Montpelier in 1848. Also in NLGroup are Life Insurance Company of the Southwest in Dallas, Texas, and Sentinel Investments, Equity Services, Inc. and National Retirement Plan Advisors, all located in Montpelier.David Coates, lead independent director on the National Life Group(r) Board of Directors, said MacLeay has revitalized the company. “The right person in the right place at the right time can change everything – and for National Life, Tom MacLeay has been that person.””When the Board named Tom as CEO, I said no one was better suited, better prepared or better able to fill the leadership post. Time has proven me right. By every measure National Life is stronger and more vibrant today than it was before Tom took over,” said Coates.During MacLeay’s tenure as chief executive officer, National Life Group(r) has experienced exceptional growth by every possible measure. NLGroup’s assets under management jumped from $13 billion in 2002 to $20 billion this year; net income has broken the $100 million mark each of the last two years, and statutory capitalization has been growing at an annual rate of 15 percent since 2002.”Most importantly, Tom has worked to grow and diversify the businesses so that today the company has an excellent and healthy balance of business, with about a third of its assets under management from life insurance, a third from annuities and roughly 25 percent from Sentinel Investments, our asset management company,” said Coates.MacLeay also has been responsible for enhancing National Life Group’s(r) commitment to the environment and its reputation as a socially responsible corporate citizen. Under his leadership the company formed a major charitable foundation and embarked upon an ambitious, multi-faceted project to turn its Montpelier headquarters into a green campus. MacLeay just announced the company will soon begin installing on its roof the largest solar electricity project in the state. National Life Group(r) is on schedule to win coveted LEED (Leadership in Energy and Environmental Design) certification this year for its Montpelier headquarters.Coates said he and the other members of the Board are pleased MacLeay will remain as Chairman of the Board, “and that we will still have the benefit of his leadership and vision.”According to Coates, the Board has been focused on leadership development and succession planning for some time in anticipation of MacLeay’s retirement. The Board has already begun a process to select a successor.MacLeay joined National Life in 1976 as a security analyst, rapidly advancing through the management ranks and serving in pivotal positions at critical times in the company’s growth and expansion. He became President and Chief Operating Officer in 1996; in 2002 he was named Chief Executive Officer and Chairman of the Board.MacLeay said he is looking forward to continuing a role with the company as Chairman of the Board, and is also eager to have time for other endeavors. “Charlotte and I are looking forward to spending more time with our children and grandchildren and hope to do some extended travel,” he said. “We are both active with several organizations, have deep roots in the local community and have no plans to change our primary residence.”MacLeay is Chairman of the Board of Sentinel Group Funds, Inc., and currently serves on the Board of Directors of Chittenden Trust Company and the Central Vermont Economic Development Corporation. He is a Trustee and Chairman of the Finance Committee of the Air Force Aid Society.The MacLeays live in Montpelier. They have two grown children, David MacLeay and Kate MacLeay Crespo, and two grandchildren.###About National Life Group(r)National Life Group(r) is a diversified family of financial service companies that has successfully forged a strong identity as a product innovator. Companies in the group offer a comprehensive portfolio of life insurance, annuity and investment products to help individuals, families and businesses pursue their financial goals.National Life, a Fortune 1000 company, serves more than 700,000 customers. With 2007 revenue of $1.4 billion and net income of $109 million, members of National Life Group(r) employ roughly 900 employees, with most located at its home office in Montpelier, VT. Group companies also maintain offices in Dallas, New York, San Francisco, Boston and Philadelphia.The Group is made up of its flagship company, National Life Insurance Company, founded in Montpelier, Vermont in 1848; Life Insurance Company of the Southwest, Dallas, Texas, and Sentinel Investments, Equity Services, Inc. and National Retirement Plan Advisors, all located in Montpelier.National Life Group(r) is a trade name of National Life Insurance Company and its affiliates. National Life Insurance Company’s variable insurance products are distributed by Equity Services, Inc., Member FINRA and SIPC. Sentinel Funds are distributed by Sentinel Financial Services Company, Member FINRA/SIPC. Life Insurance Company of the Southwest offers fixed insurance products in all states except New York. All companies referenced are affiliates of National Life Group(r). Each company of the National Life Group(r) is solely responsible for its own financial condition and contractual obligations.last_img read more

Tottenham to double Toby Alderweireld contract

first_imgTottenham are ready to double Toby Alderweireld’s current contract.The Mirror says Spurs want Belgium international Alderweireld to be one of their highest-paid players, to ensure he is not lured away by clubs such as Chinese-backed Italian giants Inter Milan.Defender Alderweireld, 28, is currently on around £50,000-a-week and wants parity with the likes of Harry Kane and Hugo Lloris, both of whom are on double that.His current contract has two years left to run, but Spurs have an option to extend it by another 12 months until 2020 — and they have no intention of allowing him to leave.last_img