||For Immediate Release|
Pacific Life's Tom Gibbons and Joseph Krum Assume
Additional Corporate Treasury Responsibilities
Newport Beach, Calif. (September 12, 2012) - Pacific Life's Chairman and CEO James T. Morris announced today that Tom Gibbons will assume the leadership role of Pacific Life's Corporate Treasury, Tax, and Enterprise Consulting departments, and Joseph W. Krum will succeed Denis Kalscheur as Pacific Life's treasurer, effective January 1, 2013. These organizational changes are being made following the announcement that Mr. Kalscheur has been named chief executive officer of Aviation Capital Group, a wholly owned subsidiary of Pacific Life.
Mr. Gibbons joined Pacific Life as vice president, Tax, in 2004. In 2010, he was promoted to senior vice president. In his new role, Mr. Gibbons will oversee Pacific Life's treasury and tax operations, its institutional investment product business, financial planning and budgeting, as well as other strategic initiatives. Prior to joining Pacific Life, Mr. Gibbons served as a tax partner for Deloitte & Touche and as a tax director for the insurance unit of General Electric Capital Corporation. Mr. Gibbons received a bachelor's degree in accounting from Widener University and is a Certified Public Accountant.
Mr. Krum joined Pacific Life in 2001 as the co-managing director of Pacific Asset Funding, LLC, a start-up subsidiary. In 2003, he transferred to Pacific Life's Strategic Planning & Development department and assumed leadership of the department in 2005. In his new role as treasurer, Mr. Krum will oversee treasury-related activities, including financings, liquidity management, and corporate financial relationships. Prior to joining Pacific Life, Mr. Krum held various management positions within General Electric Company. He received a bachelor's degree in finance from Penn State University.
"Tom's proven leadership, along with his solid business sense and broad knowledge of tax issues surrounding financing, makes him ideally suited to this new role," said Mr. Morris. "In addition, Joe's extensive background in international and liability financing, as well has his direct involvement in several financing endeavors for Pacific Life, have prepared him for his new role as treasurer."
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit the About Pacific Life section of this website.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of May 2012 is compiled by Pacific Life using the 2012 FORTUNE 500® list.