MetLife: Lisa Weber, President Of Individual Businesses, Resigns
September 03 2009 - 05:59PM
Dow Jones News
Lisa M. Weber, MetLife Inc.'s (MET) president of individual
business, resigned her positions with the company Thursday, MetLife
said in a Securities and Exchange Commission filing Thursday.
Weber led the company's successful annuities operations and has
been called one of the most powerful women in business.
Her separation agreement calls for Weber to "not work for
certain competitors of MetLife, interfere with MetLife's business
relationships, or solicit employees to leave MetLife through 2010,
among other terms," the filing said.
In return for agreeing to those terms, MetLife will give Weber a
$5 million payment and her outstanding stock options will be
exercisable through the remainder of their term. Weber will also
continue to receive her salary at an annual rate of $630,000,
remain eligible for benefits, and will keep her car and driver
through the end of the year, in return for being available to
"advise," MetLife, the filing said.
Weber's old boss, Robert Benmosche, recently took over the top
spot at competitor American International Group Inc. (AIG).
-By Lavonne Kuykendall, Dow Jones Newswires; 312-750 4141;
lavonne.kuykendall@dowjones.com