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NEW CHAIRMAN ELECTED EFFECTIVE JULY 1ST

 BOSTON, April 29 /PRNewswire/ -- President and chief executive officer Robert A. Shafto has been elected to the additional office of chairman of The New England, effective July 1.
 He will succeed Edward E. Phillips, who will continue as a member of the board of directors of the company, one of the nation's larger insurance and investment firms. The succession is consistent with transition plans originally announced last year when Phillips reached the company's mandatory retirement age of 65 and Shafto was elected CEO.
 Shafto, 57, joined The New England in 1972 in computer systems development. Since then, he has held a number of executive positions, having been elected a senior vice president in 1975 and executive vice president in 1982. In 1990, he was elected president of the company, and in 1992, chief executive officer.
 A graduate of Drake University, where he holds a degree in actuarial science, Shafto is active in a number of industry organizations. He is a board member of the American Council of Life Insurance, and a trustee of The American College.
 Active in a number of civic and charitable organizations, Shafto serves on the board of directors, United Way of Massachusetts Bay, where he is this year's campaign chairman. He's a Member of the Corporation, Dana Farber Cancer Institute and a director of Fleet Bank.
 Phillips joined the company in 1969, was elected president in 1974, and chairman and chief executive officer in 1978.
 A graduate of Amherst College (1952) and Harvard Law School (1955), Phillips has been active in many insurance industry organizations during his tenure, including serving as chairman of the American Counsel of Life Insurance, the industry's national trade organization; chairman of the Life Insurance Committee for Corporate Public Involvement; and chairman of the Life Insurance Association of Massachusetts.
 He is a director of a number of other organizations including NYNEX, Affiliated Publications, CRICO, and New England Investment Companies, and a trustee emeritus of Amherst College.
 In Massachusetts he also has been active in a wide range of business and civic activities, including chairman of the Massachusetts Business Roundtable; chairman of the Massachusetts Taxpayers Foundation; chairman of the Greater Boston Arts Fund; chairman of the New England Conservatory of Music; and chairman of the nationally acclaimed ACCESS program, which provides counseling and funds for Boston public school students to attend college.
 -0- 4/29/93
 /CONTACT: Peter N. Harrington of The New England, 617-578-2729/


CO: The New England ST: Boston IN: INS SU: PER

CH -- NE006 -- 2559 04/29/93 10:34 EDT
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Publication:PR Newswire
Date:Apr 29, 1993
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