Page 21 - Demo CEOs of the Fortune 500

• In 2016 Academy Hill School established The Crandall Scholars Endowment Fund with an initial $120,000 donation from Crandall. The fund is Academy Hill's first endowment named after a benefactor, established to provide financial aid for students with a record of academic excellence who would not otherwise have the opportunity to attend the school "The foundation for a successful future is an enriching and fulfilling education that inspires young people to follow their dreams and achieve their highest potential," said Mr. Crandall. "This gift ensures that talented, hardworking students in the Springfield area can reap the outstanding benefits of an Academy Hill education, and provides a roadmap to excellent secondary school and college placements that open up even more opportunities for meaningful academic growth." Crandall has also provided a $30,000 scholarship to support a current student for the next two academic years, something he has done multiple times in the past. Crandall, whose children are alumni of Academy Hill, is a longtime supporter of the school.
• In a February 2016 commentary in The Republican Crandall wrote, "It was 165 years ago that 31 investors met in Springfield to launch a company to help friends and neighbors secure their future and protect the ones they love. Back then, few would have thought that same company would still be carrying out its purpose nine generations later. But while much has changed since our founding, the commitment of the Massachusetts Mutual Life Insurance Company has been the same: to be there when our customers need us most. We were proud to continue delivering on that pledge last year by building a stronger, better company for the future and leaving a lasting positive impact on our communities. For many companies, 2015 was a year of global headwinds and challenges. Instability everywhere from China to Greece to the Middle East combined to make a volatile 12 months for the international economy. By the end of the year, both the Standard & Poor's and Dow Jones Industrial Average were in the red, a first since the financial crisis of 2008. Despite this instability, MassMutual solidified its position as an industry leader. We continued to post record sales in our core markets of whole life insurance and retirement plans and outpace our industry. Our total adjusted capital – the greatest measure of our financial stability – grew to more than $17 billion at the end of 2015, an all-time high. That same stability allowed us to once again bring to life our commitment to policy owners through our annual dividend payout. Though dividends are not guaranteed, we announced an estimated $1.7 billion dividend payout in 2016 for eligible participating policy owners – our highest ever. And, we continued to have among the highest financial strength ratings of any company in any industry. Of course, our greatest assets aren't on a balance sheet. They are the people who serve our customers and the communities we call home. In 2015, we grew our national network of financial professionals to 5,800, our highest total ever. Through their work – coupled with our thousands of talented and dedicated employees – we continued to help people navigate the biggest financial decisions of their lives. In addition to bringing passion and commitment to their work, we know our people can best serve our customers if they reflect the changing face of America today. That's why MassMutual continued to gain recognition for building a diverse and inclusive workforce. In fact, in 2015 we were named for the first time as a Diversity Inc. Top 50 company and achieved a perfect score of 100 on the Human Rights Campaign Corporate Equality Index. Recognition like this helps build a deeper connection with consumers, and that is especially important as people need our help now more than ever. We are living in a time of slow wage growth, stagnant retirement savings, fraying social safety nets, and a 50-year low in life insurance ownership. At the same time, technology is redefining expectations for every industry. Studies show that nearly 75% of Americans go online daily, and for the first time in history, people are spending more time looking at phone screens instead of TV screens. All of this points to the need to provide multiple solutions to meet multiple preferences. In 2015, we made strides in finding new ways to be there for our customers, such as helping millennials and other under-served markets demystify the world of personal finance, using the power of data to help our customers select the best benefits for their needs, or giving people several ways to buy life insurance, whether it's through an agent, online or over the phone. But our work to create a better future is not just limited to our company or our customers. It also extends to our ongoing
Copyright 2017 Boardroom Insiders www.boardroominsiders.com 21