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MetLife adds former Commerce Secretary to board

NEW YORK (AP) -- Insurer MetLife Inc. said Friday that former Secretary of Commerce Carlos M. Gutierrez has been elected to its board, effective immediately.

Gutierrez, 59, was most recently vice chairman of Citigroup's Institutional Client Group. Before that, he was chairman of Global Political Strategies, part of global strategic communications firm APCO Worldwide.

He served as Secretary of Commerce from 2005 to 2009. Before that he was CEO of Kellogg Co.

MetLife CEO Steven Kandarian said Gutierrez' leadership experience in the private and public sectors, along with his global management background, make him a good addition to the board.

MetLife shares rose $1.82, or 4.9 percent, to close at $39.03 amid a broader market rally.