Per our by-laws, the Annual Meeting for the Policyholders of the Boston Mutual Life Insurance Company will be held on the 3rd Wednesday of April at 3:00 P.M. at the Home Office of the Company, 120 Royall Street, Canton, Massachusetts 02021. An Election of Directors will take place at that time.
This year’s meeting will be held on Wednesday, April 18, 2018. If you are a policyholder and are unable to attend the meeting but would like to vote by proxy, please contact the Office of the Corporate Secretary. Proxies must be received by the Company by April 10, 2018.
On February 22, 2018, the Board of Directors increased the number of Directors to thirteen with staggered terms. The proposed term and biographical information for each new Director appears below.
John M. Cornish, J.D. – Class C Director (term expiring April 2022)
John Cornish was elected to Boston Mutual Life Insurance Company’s board of directors in April 2013 and is also currently Chairman of the Corporate Governance & Nominating Committee. Mr. Cornish was a partner at Choate, Hall & Stewart and co-chair of the firm’s Wealth Management Department, and he has served several terms on its Executive Committee. He began his career in 1973 as an attorney for Warner & Stackpole LLP in Boston, becoming a partner for the firm in 1980. He has been listed in Best Lawyers in America and named a Massachusetts Super Lawyer.
He is a managing trustee of numerous private and charitable trusts and represents non-profit organizations on general and tax matters. As a trustee of the Calderwood Foundation, he received the Wimberly Award in 2009 for his role in establishing the Stanford Calderwood Pavilion at the Boston Center for the Arts and for his overall commitment to the theatre. He is also a fellow for the American Academy of Arts and Sciences.
Mr. Cornish received his bachelor’s degree from Harvard College in 1969. He earned his doctor of law degree from Georgetown University Law Center in 1973 and his Master of Laws degree in taxation from Boston University Law School in 1977.
Paul E. Petry – Class C Director (term expiring April 2022)
Paul Petry was elected to Boston Mutual Life Insurance Company’s board of directors in February 1996. Mr. Petry joined Boston Mutual Life Insurance Company in 1995 and became chairman, president, and chief executive officer in 2001. He retired as president in 2012, as CEO in 2014, and as chairman in 2016. He began his insurance career with Connecticut Mutual in 1971 as an actuarial student, moving up to executive vice president and chief financial officer by 1988.
Mr. Petry is also a director for Life Insurance Company of Boston & New York. He is a fellow of the Society of Actuaries, a member of the American Academy of Actuaries, and a chartered life underwriter (CLU). In 2009, he was awarded the Distinguished Service Award by the American Council of Life Insurers.
Mr. Petry graduated from Holy Cross College in 1968 and completed the Advanced Management Program at the Harvard Business School in 1988. He served as an officer in the United States Coast Guard, including a tour of duty in Vietnam where he was awarded the Navy Commendation Medal.
John J. Murphy, Jr. – Class B Director (term expiring April 2019)
John Murphy was elected to Life Insurance Company of Boston & New York’s board of directors in June 2008. He started his financial career at Citicorp where he served as vice president of Citicorp Venture Capital, followed by joining Adler & Shaykin as a general partner. Since 1987, he has been the managing general partner of Murphy & Partners Funds, which are private equity funds invested in portfolios of private companies in the healthcare, media, and education sectors.
Mr. Murphy has served on the boards of numerous portfolio companies and other entities, including 24 for-profit corporations and 13 not-for-profit institutions. He currently serves on the boards of NB Education, Inc. and Assessment Innovation, Inc. He is a member of the Board of Catholic Charities of Brooklyn and Queens Neighborhood Services, Inc. and serves on the Pension Advisory Board. Mr. Murphy also serves as Chairman of the Finance Committee and member of the Investment Committee of the USA Northeast Province of the Society of Jesus (the Jesuits).
Mr. Murphy received his bachelor’s degree from the College of the Holy Cross, where he has also served as trustee and member and Chairman of the Investment Committee. He received his master’s degree in business administration from the Amos Tuck School of Business Administration at Dartmouth College.
Timothy L. Porter – Class A Director (term expiring April 2020)
Timothy L. Porter was elected to Life Insurance Company of Boston & New York’s Board of Directors in February 2000. Mr. Porter served as Senior Counsel at Proskauer Rose LLP and also served as its Chief Client Relationship Counsel.
Prior to Proskauer Rose LLP, Mr. Porter served as Vice President-law at AT&T, and chief counsel for labor, employment and environment, where he worked as an attorney for over 20 years. At AT&T, he was responsible for all of the AT&T’s domestic and international labor relations, employment, employee benefits, executive compensation and environmental law matters as well as collective bargaining negotiations, appearances before the Equal Employment Opportunity Commission and labor arbitrations. Prior to serving as chief employment law counsel, a position he held for 10 years, he also led regional and national organizations of AT&T’s Government Affairs Department, where he interfaced with numerous state and federal officials and regulatory agencies overseeing public utilities.
Mr. Porter served as a director of ATTIMCO, AT&T’s employee benefit plan asset management branch, which managed billions of dollars in assets attributable to the company’s retirement and health plans. He joined AT&T in 1974 as an attorney and also served as its Southern Region Vice President of Government Affairs from 1993 to 1996 and thereafter chief employment law counsel. He has been an adjunct law professor of employment law, a frequent lecturer and speaker on domestic and international law topics. He also serves as an associate trustee at the College of the Holy Cross.
Mr. Porter serves as a member of board of trustees at Newark Public Radio, Inc., New School University, and the College of the Holy Cross. He serves on the board of directors for the National Jazz Museum in Harlem, and previously the YMCA of Greater New York. He serves as the Board of Governors member at the New School for Jazz & Contemporary Music. He was also a director of Young Men’s Christian Association of Greater New York. He was the U.S. Executive Committee chairman of the British American Project, as well as a member of the advisory board, and also served as a member of the board of the directors of Old Town School of Folk Music in Chicago.
He holds a bachelor’s degree from the College of the Holy Cross and received a doctor of law degree from New York University School of Law.
Catharine W. O’Rourke – Class D Director (term expiring April 2021)
Catharine O’Rourke was elected to Life Insurance Company of Boston & New York’s Board of Directors in May 2011. She retired several years ago from a second career as Associate Director, Development at The Children’s Aid Society in New York City. Prior to her ten years in the fundraising world, she spent 24 years as an investment banker at numerous firms, including Everen Securities, Dean Witter, Bankers Trust, and Merrill Lynch.
Currently, Ms. O’Rourke serves as President of the Board of Trustees of Kaufman Music Center and as a Director of Chamber Music Associates in New York. She also serves as Treasurer of a family real estate company.
Ms. O’Rourke is a graduate of Wellesley College. She received her master’s degree in business administration from the University of Chicago and Master of Music degree in piano from Northwestern University. She continues to be an active chamber musician.
Laurie M. Shahon – Class C Director (term expiring April 2022)
Laurie Shahon was elected to Life Insurance Company of Boston & New York’s Board of Directors in 2010. Ms. Shahon founded Wilton Capital Group in 1994 to make private direct investments in early to mid-stage companies and medium-sized buyouts.
Prior to founding Wilton Capital, Ms. Shahon ran mergers, acquisitions and special operating projects at a private holding company for which she also served as Vice Chairman and Chief Operating Officer of Color Tile, a 700 store flooring chain. Prior to that, she was an investment banker at Morgan Stanley and Salomon Brothers, where she founded and led the latter firm’s Retailing and Consumer Products Group.
She also currently serves on the boards of KCG, where she is on the Audit and Finance and Nominating and Governance Committees; Ramco-Gershenson Properties Trust, where she is on the Audit and Compensation Committees; and Augmented Reality Concepts, where she is Compensation Committee Chairman and also serves on the Audit Committee. She has served on the boards of more than twenty public and private companies since 1987, including Arbor Drugs, The Bombay Company, Eddie Bauer, Kitty Hawk and Safelite Holdings.
Ms. Shahon is a graduate of Wellesley College and received her master’s degree in business administration in Finance and International Business from Columbia Business School, where she has been an Adjunct Professor.