Board leadership transition to take place at 2017 Annual Meeting
CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Non-executive Chairman Thomas R. Watjen has informed Unum Group’s
(NYSE:UNM) board of directors of his decision to not stand for
re-election at the company’s Annual Meeting of Shareholders in May 2017.
Watjen’s retirement marks the completion of a two-year leadership
transition that began in 2015 when he stepped down as CEO of the company
and Richard P. McKenney assumed the role.
“When I became chairman, I committed to a two-year term to ensure
continuity during a period of board and management transition,” said
Watjen. “I believe this goal has been fulfilled and the transition has
been a success, both at the company and board level.”
Upon receiving Watjen’s notice, the board appointed lead independent
director Kevin T. Kabat, retired vice chairman and CEO of Fifth Third
Bancorp, as non-executive chairman effective at the Annual Meeting,
contingent on his re-election as a director by shareholders.
“I’m honored by the confidence my fellow board members have placed in
me, and I look forward to the opportunity to serve as chairman,” said
Kabat. “I am deeply humbled to be succeeding Tom Watjen, who has been
such an impactful leader in so many ways. His legacy is evident in the
strong executive team we have today, which gives me great confidence in
our ability to continue delivering value for our shareholders while
meeting the financial protection needs of our customers.”
“I fully support the board’s decision to elect Kevin to the chairman
role,” added Watjen. “He has been a valuable contributor as both a board
member and lead independent director. Our board is as strong as it’s
ever been, and Unum is flourishing today under Rick McKenney’s
leadership. I feel good about stepping away next year because the
company is in such great hands.”
ABOUT UNUM
Unum Group (www.unum.com)
is a leading provider of financial protection benefits in the United
States and the United Kingdom. Its primary businesses are Unum US,
Colonial Life and Unum UK. Unum’s portfolio includes disability, life,
accident and critical illness coverage, which help protect millions of
working people and their families in the event of an illness or injury.
The company reported revenues of $10.7 billion in 2015, and provided
$6.8 billion in benefits last year.
For more information visit us at www.unum.com
or connect with us at www.facebook.com/unumbenefits,
twitter.com/unumnews
and www.linkedin.com/company/unum.
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Unum Group
Media:
Jim Sabourin, 423-294-6300
or
Investors:
Thomas
A.H. White, 423-294-8996
or
Matt Barnett, 423-294-7498
Source: Unum Group