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MassMutual Announces Promotions for Two Co-Chief Operating Officers
Date:11/21/2008

SPRINGFIELD, Mass., Nov. 21 /PRNewswire/ -- Massachusetts Mutual Life Insurance Company (MassMutual) today announced the promotions of its two Co-Chief Operating Officers.

-- Roger W. Crandall, Co-Chief Operating Officer, Executive Vice President and Chief Investment Officer, will assume the position of President of MassMutual from Stuart H. Reese, who remains Chairman and Chief Executive Officer. Additionally, Mr. Crandall will become sole Chief Operating Officer and join the company's Board of Directors. His role as Executive Vice President and Chief Investment Officer of MassMutual will be assumed by Thomas M. Finke, who also takes on Mr. Crandall's title as Chairman and CEO of MassMutual subsidiary Babson Capital Management LLC. These appointments are effective Dec. 1, 2008.

-- William F. Glavin Jr., Co-Chief Operating Officer and Executive Vice President, U.S. Insurance Group, MassMutual, has been appointed CEO of OppenheimerFunds, Inc., effective Jan. 1, 2009. In that role, he succeeds John V. Murphy, who will remain as Chairman of OppenheimerFunds until his retirement at the end of 2009. Succeeding Mr. Glavin as Executive Vice President and head of MassMutual's U.S. Insurance Group will be Michael R. Fanning, currently the group's Senior Vice President and Chief Operating Officer. Mr. Fanning's appointment is effective Dec. 1, 2008, and he will report directly to Mr. Crandall.

Both Mr. Crandall and Mr. Glavin -- who have served as Co-Chief Operating Officers since July 2007 -- will continue to report to Mr. Reese.

"At MassMutual, one of our top priorities is the professional development of our leaders, and these promotions reflect the demonstrated capabilities and proven expertise of both Roger and Bill. Over the course of his career, Roger has repeatedly exhibited tremendous investment expertise and leadership skills that have helped MassMutual maintain its fundamental fi
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SOURCE MassMutual
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