The board of directors of Springfield’s MassMutual have elected Roger W. Crandall chairman of the board, effective December 28.

Crandall, who has been president and chief executive officer since Jan. 1, will retain both titles. He succeeds Stuart H. Reese, who will retire as non-executive chairman and member of the board of directors.

"It is an honor to serve our policyholders as the next chairman of MassMutual," said Crandall. "I look forward to working closely with our board of directors and the dedicated employees of this great company as we continue to build on our distinguished history. I have been fortunate to follow Stu Reese, who reinforced our proven focus as a mutual life insurance company operating for the benefit of our policyholders. Stu’s emphasis on our core strengths enabled us to retain our extremely strong financial and competitive position during the most volatile economic times, and we will continue to benefit from his tenure here for a long time to come."

"The board was unanimous in its confidence that Roger is ideally suited to lead MassMutual as chairman, president and CEO," said Reese. "Roger has a keen sense of what has distinguished MassMutual during its 159 years, and that perspective, together with his personal integrity, strategic vision, and keen focus on the customer, will serve the company and its policyholders well."

Prior to his appointment as CEO, Crandall served as president and chief operating officer of MassMutual, a position he held since December 2008 when he also joined the board of directors. He served as executive vice president and chief investment officer of MassMutual from June 2005 to November 2008, and was also appointed co-chief operating officer of MassMutual in June 2007.