Globe Life Inc. Announces Executive Leadership Changes

Globe Life Inc. (NYSE: GL) announced changes to the Company’s executive leadership team. Effective December 31, 2022, Co-Chairmen and Co-Chief Executive Officers Gary L. Coleman and Larry M. Hutchison will step down as Co-Chief Executive Officers. They will continue to serve in an executive capacity as Co-Chairmen of the Board of Directors on and after such date.

The Globe Life Inc. Board of Directors has unanimously appointed J. Matthew Darden, currently Globe Life’s Senior Executive Vice President and Chief Strategy Officer, and Frank M. Svoboda, currently Globe Life’s Senior Executive Vice President and Chief Financial Officer, as Co-Chief Executive Officers, effective January 1, 2023. 

Mr. Coleman and Mr. Hutchison said, “It has been a privilege to serve Globe Life and we are extremely proud of the many accomplishments achieved at this great company. We are indebted to the talented employees, agents and agency owners, and the members of the Board of Globe Life and are deeply appreciative of their hard work and dedication.”

Linda Addison, lead independent director, said, “On behalf of the Globe Life Board of Directors, I thank Gary and Larry for their dedicated service and commitment to the Company. As Co-CEOs, Gary and Larry have provided outstanding leadership over the last ten years, helping generate strong growth and shareholder value.  They have Globe Life well positioned for future success and will help facilitate a seamless transition of leadership to Matt and Frank. This transition is the culmination of a robust, thoughtful succession planning process that began many years ago.”

Mr. Coleman and Mr. Hutchison continued, “We are confident that Matt and Frank are ideally suited to lead this Company in its next phase of growth and development. Between the two of them, they bring a vast, wide-ranging skill set ideally suited for this role. The Board and we are confident that Matt and Frank’s expertise, combined with their commitment to execute the Company’s strategy, will ensure Globe Life’s continued growth and creation of shareholder value. We are committed to working closely with the Board, Matt and Frank, and the rest of Globe Life’s management team, employees, and the agency force to help ensure a smooth transition.” 

Mr. Darden and Mr. Svoboda said, “We are honored to have been chosen to lead Globe Life following Gary and Larry’s retirement as Co-CEOs. We look forward to partnering together to build on the solid foundation established by Gary and Larry and their predecessors, and are committed to enhancing value for all of Globe Life’s stakeholders. While the Company will evolve and capitalize on future opportunities, we will continue to focus on providing basic protection insurance to the vastly underserved lower middle to middle-income market with a commitment to grow our business and return excess capital to our shareholders. These are the basic tenets of the business model that has served the Company so well in the past and that we fully expect will continue to facilitate success well into the future.”

Globe Life also announced that Thomas P. Kalmbach, currently Globe Life’s Executive Vice President and Chief Actuary, has been appointed Executive Vice President and Chief Financial Officer, effective January 1, 2023, and Dolores L. Skarjune, currently Globe Life’s Senior Vice President of Sales Administration, has been promoted to Executive Vice President effective January 1, 2023.

Mr. Darden and Mr. Svoboda added, “Tom has made significant contributions to the Company during his tenure at Globe Life. He has extensive insurance industry experience, including Chief Actuary and CFO roles. Dolores has provided outstanding leadership in a number of key administrative and sales support roles that have had a significant impact on Globe Life. Our customers and agents will benefit from her extensive sales and operational experience gained at Globe Life and Verizon Wireless. We look forward to working closely with Tom and Dolores in their new positions.”

The Company will discuss these executive leadership changes on its third quarter earnings conference call scheduled for tomorrow, October 27, 2022. Listen to the conference call live over the internet or as a replay at on the Investor Relations page under Conference Calls or by dialing (1-786 697-3501) and referencing the passcode:  Globe Life Inc.

Leave a Comment