Robert Henrikson

MetLife Inc. (MET) Chief Executive Steven Kandarian got a $13.7 million pay package for 2012, his first full year in the role, as the life insurer continued to struggle with the impact of low interest rates.The package was a 29% increase over 2011, when Mr. Kandarian was CEO for eight months after taking the reins from C. Robert Henrikson in May.In the company's annual proxy released Friday, MetLife's compensation committee cited "strong operational performance" and the "development of company strategy" as factors it weighed in coming up with Mr. Kandarian's pay package. MetLife's $5.69 million operating profit last year was a 22% increase from 2011 and $486 million above the company's goal for the year, according to the proxy.The package includes a base salary of $1.1 million, a $4.2 million bonus, and stock and options valued at $7.7 million. It also includes $136,740 of personal travel on the company jet.In 2011, Mr. Kandarian was paid $10.6 million for the full year. He had been ch...

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