Name: NY Life Insurance CEO Says 'Diverse Viewpoints' Guide his Leadership
Uploaded: 2019-12-11
Duration: 3 min 28 s
Description: Ted Mathas says a 'diversity perspective' results in better decisions.

[MUSIC PLAYING] Ted, since you became CEO of New York Life Insurance Company 10 years ago, one of your biggest priorities has been diversity, diversity in the workplace, diversity on the board of directors. Why was this so important to you? We're a life insurance company in the United States of America. America is becoming more and more diverse. Our customers are becoming more and more diverse. So the first thing that we did from a business strategy is we leaned into that. We want to go where families are growing. And the families that are growing are coming more and more from diverse communities. New York Life has been around for 173 years and has a long history of helping people with their finances and their financial future. But how do you think the corporate culture has changed and evolved because of your leadership on this diversity issue? If we're going to make the best decisions possible, you want to have the most diverse viewpoints around the table. It has to be in a company in a culture where people feel connected. And we have to work hard to make people feel connected and aligned in an appropriate way. But diversity of perspective is an inherent part of good decision making. So that is why we've worked hard to improve the diversity on our board, the diversity in our executive officer ranks, the diversity of the overall population, and the diversity of the agent advisors who work for us across the country. One thing that we're seeing now in the corporate world is that employees, and customers, and even the public are expecting more from their business leaders. What more do you feel that you and New York Life need to do to be better? Companies have a responsibility to society besides the business that they do. And so I believe that we have a noble cause, the business that we're in. But we also have the opportunity to create environments and to role model the kinds of behaviors that people should look to for leadership. As the CEO of a big Fortune 500 company, do you feel obligated to speak out more on social issues like this one, even if it doesn't specifically impact your company? I think that all CEOs today have to address this issue of how to use the leadership platform that we're fortunate to have. At the same time, you have to balance that with this. It shouldn't be a platform for your own personal political views. The way I do that at New York Life is I have a team of folks. We get together, and we talk about things that are going on to try to decide and get all the opinions, the diverse opinions around the table, about what are the issues that are so aligned with the values of our company that we have to speak out, that we have a responsibility to speak out, and ensure that they're not just happen to be my political perspective, that because I'm the CEO, I'm putting forward. Ted, you talk a lot about your Greek immigrant roots and the values that you learned from your parents and your grandparents. As you look back, what is the most important leadership lesson that you learned from them and that it's resonated with you over so many years? From my dad, I learned the sense of doing something important, noblesse oblige. You've been given a lot. Now, go do a lot with it. From my mom, I learned a very important message, which is how you say things matters as much as what you have to say. And from my grandmother who suffered through the Great Depression and lost her husband at an early age, but everyday got up and contributed something in our house, I learned this unbelievable sense of gratitude and work ethic. 

NY Life Insurance CEO Says 'Diverse Viewpoints" Guide his Leadership

Leadership

Ted Mathas says a "diversity perspective" results in better decisions.

Since you became CEO of New York Life Insurance Company 10 years ago, one of your biggest priority has been diversity. Diversity in the workplace, diversity on the board of directors. Why was it so important to you were a life insurance company in the United States of America? America right is becoming more and more diverse. Our customers are becoming more and more diverse. So the first thing that we did from a business strategies we leaned into that we want to go where families are growing and the families that are growing or coming more and more from diverse communities. New York Life has been around for 173 years and has a long history of helping people with their finances and their financial future. But how do you think the corporate culture has changed and evolved because of your leadership on this diversity issue? If we're going to make the best decisions possible, you wanna have the most diverse viewpoints around the table. It has to be in a company in a culture where people feel connected and we have to work hard to make people feel connected and aligned inappropriate way. But diversity of perspective is an inherent part of good decision making. So that is why we've worked hard to improve the diversity on our board. The diversity in our executive officer ranks the diversity, the overall population and the diversity of the agent advisors who worked for us across the country. I mean, one thing that we're seeing now, um, in the corporate world is that employees and customers and even the public are expecting more from their business leaders. What more do you feel that you and New York life need to do to be better? Cos I have a responsibility to society besides the business that they dio? And so I believe that we have a noble cause, the business that we're in. But we also have the opportunity to create environments in tow, role model, the kinds of behaviors that people should look to for leadership. As the CEO of a big Fortune 500 company, do you feel obligated to speak out more on social issues like this one? Even if it doesn't specifically impact your company? I think that all CEO today have to address this issue of how to use the leadership platform that we're fortunate to have at the same time, you have to balance that with this. It shouldn't be a platform for your own personal political views. The way I do that at New York life is I have a team of folks. We get together. We talk about things that are going on to try to decide and get all the opinions, the diverse opinions around the table, about what are the issues they're so aligned with the values of our company that we have to speak out, that we have a responsibility to speak out and ensure that they're not just happen to be my political perspective, because I'm the CEO. I'm putting forward. 10. You talk a lot about your Greek immigrant roots roots and the values that Doolin for your parents and your grandparents. As you look back, what is the most important leadership lesson that you learn from them? And it resonated with you over so many years from my dad I learned the sense of doing something important. No bless oblique. You've been given a lot. Now go do a lot with it from my mom. I learned a very important lesson, which is how you say things matters as much as what you have to say, and for my grandmother, who suffered through the Great Depression and lost her husband and early age, but every day got up and contributed something in our house under this unbelievable sense of gratitude and work ethic.