Michele G. Buck Appointed Lead Director of New York Life Board of Directors

New York Life Insurance Company announced today the appointment of Michele Buck as Lead Director of New York Life's Board of Directors, effective July 1, 2018. Ms. Buck is the president and chief executive officer of The Hershey Company HSY, one of America's most iconic brands. She has served on New York Life's Board since 2013, and recently chaired the Insurance & Operations Committee. She has served on Hershey's Board since 2017.

"Michele Buck is a deeply experienced corporate leader who provides valuable strategic guidance to the Board and New York Life," said Ted Mathas, chairman and chief executive officer of New York Life. "She will bring her strong business acumen to the Lead Director position as the Board continues to focus on delivering financial security and peace of mind for New York Life's current and future policy owners."

Prior to her current position at Hershey, Ms. Buck held several senior leadership roles within the company. Most recently, she served as Chief Operating Officer, leading Hershey's day-to-day North American operations and overseeing Hershey's operations in Central and South America. Before joining Hershey in 2005, Ms. Buck served 17 years at Kraft/Nabisco and at the Frito-Lay division of PepsiCo in various senior roles.

Ms. Buck is ranked as one of Fortune's Most Powerful Women and serves as the Benefit Co-Chair of the Children's Brain Tumor Foundation. She holds a Master of Business Administration from the University of North Carolina and a Bachelor of Science degree in business administration from Shippensburg University.

ABOUT NEW YORK LIFE

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody's Investors Service (Aaa), Standard & Poor's (AA+).** Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Visit www.newyorklife.com for more information.

* Based on revenue as reported by "Fortune 500 ranked within Industries, Insurance: Life, Health (Mutual)," Fortune magazine, 6/12/17. For methodology, please see http://fortune.com/fortune500/.

** Individual independent rating agency commentary as of 8/01/17.

***New York Life Investments is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

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