PORTLAND, Maine, May 13 /PRNewswire-FirstCall/ -- At its annual meeting
held here today, UnumProvident Corporation's (NYSE: UNM) shareholders
re-elected four directors to terms expiring in 2007.
(Photo: http://www.newscom.com/cgi-bin/prnh/20030929/CHM022LOGO-a )
Those re-elected were Ronald E. Goldsberry, chairman of OnStation
Corporation; Hugh O. Maclellan Jr., president of The Maclellan Foundation,
Inc.; C. William Pollard, chairman emeritus of The ServiceMaster Company; and
John W. Rowe, chairman and CEO of Exelon Corporation.
Continuing directors include William L. Armstrong, Jon S. Fossel, A.S.
(Pat) MacMillan Jr., Lawrence R. Pugh and UnumProvident CEO Thomas J. Watjen.
Pollard and Pugh are currently co-chairmen of the Office of Chairman of the
Board.
In his remarks to shareholders, Mr. Watjen outlined key accomplishments of
the past 15 months, including: a capital position that is stronger than at any
time in the Company's history, a significantly strengthened balance sheet and
investment portfolio, and a solid business plan for the future that is more
heavily weighted to profitability over growth.
"As a result of our restructuring over the past twelve months, we are a
very different company today," he said. "The basic operating and financial
platform is now finally in place, and I'm confident that from this platform we
can continue to serve our customers well and that we can produce solid returns
for our shareholders."
In addition to electing four directors, shareholders rejected two
stockholder proposals: to elect directors by a majority instead of plurality
vote and to establish an office of the Board of Directors.
About UnumProvident Corporation
UnumProvident (UNM) is the largest provider of group and individual
disability income protection insurance in North America.(1) Through its
subsidiaries, UnumProvident Corporation insures more than 25 million people
and paid $5.7 billion in total benefits to customers in 2003. With primary
offices in Chattanooga, Tenn., and Portland, Maine, the company employs more
than 13,000 people worldwide. For more information, visit
www.unumprovident.com .
A "safe harbor" is provided for "forward-looking statements" under the
Private Securities Litigation Reform Act of 1995. Statements in this press
release regarding the business of UnumProvident Corporation, which are not
historical facts, are "forward-looking statements" that involve risks and
uncertainties that could cause actual results to differ materially from those
contained in the forward-looking statements. These forward-looking statements
are made based upon management's current expectations and beliefs as of the
date of this press release, but there can be no assurance that future
developments affecting the Company will be those anticipated by management.
For a discussion of the risks and uncertainties that could affect actual
results, see the sections entitled "Cautionary Statement Regarding Forward-
Looking Statements" and "Risk Factors" in the Company's Form 10-K for the
fiscal year ended December 31, 2003.
SOURCE UnumProvident Corporation
-0- 05/13/2004
/CONTACT: Mary Clarke Guenther of UnumProvident Corporation,
+1-423-294-6300, or mguenther@unumprovident.com/
/Photo: http://www.newscom.com/cgi-bin/prnh/20030929/CHM022LOGO-a
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, 888-776-6555 or 212-782-2840/
/Web site: http://www.unumprovident.com /
(UNM)
CO: UnumProvident Corporation
ST: Tennessee, Maine
IN: FIN INS
SU: PER
JE-DL
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7458 05/13/200411:41 EDThttp://www.prnewswire.com