Newport Beach, CA (January 21, 2005) – It was announced today that David E. I. Pyott was elected to the board of directors of Pacific Life. Mr. Pyott will serve on the boards of Pacific Mutual Holding Company, the ultimate parent company of Pacific Life, and Pacific LifeCorp, the parent stock holding company of Pacific Life and has been appointed to serve on the Investment and Finance Committee.
Having joined Allergan in January 1998, Mr. Pyott is chairman, president, and chief executive officer. Allergan, Inc., is headquartered in Irvine, California, and is a technology-driven, global health care company providing eye care and specialty pharmaceutical products worldwide. He is also a member of the board of directors of Avery Dennison Corporation, Edwards Lifesciences Corporation, the California Healthcare Institute and serves on the Directors’ Board of the University of California, Irvine, Graduate School of Management.
Mr. Pyott holds a diploma in German and European Law from the Europa Institute at the University of Amsterdam, a master of arts degree from the University of Edinburgh, and a master’s degree in business administration from the London Business School.
"Mr. Pyott brings with him remarkable business experience which will be a valuable asset to our boards," said Thomas C. Sutton, chairman and chief executive officer of Pacific Life. "We are delighted to have him join us."
Founded in 1868, Pacific Life provides life and health insurance products, individual annuities, mutual funds, group employee benefits, and offers to individuals, businesses, and pension plans a variety of investment products and services. A FORTUNE 500® company, Pacific Life counts 25 of the 50 largest U.S. companies as clients1 and is a member of IMSA (Insurance Marketplace Standards Association), whose membership promotes ethical market conduct for individual life insurance and annuities. For additional information about Pacific Life, including its current financial strength ratings from A.M. Best, Fitch Ratings, Standard & Poor’s, and Moody’s, visit the company Web site at www.PacificLife.com.
1 Data compiled by Pacific Life using the 2004 FORTUNE 500 list, as of April 2004.