Richard McKenney, the chief financial officer of Unum Group, has been named the company's next chief executive officer, succeeding Thomas Watjen, who informed the board of his decision to retire from his executive position at Unum's 2015 annual meeting after 12 years as CEO.

Effective April 1, 2015, Mr. McKenney will become president and will be appointed to the Unum board of directors. Effective at the company's 2015 annual meeting, to be held in May, Mr. McKenney will succeed Mr. Watjen as CEO.

Jack McGarry, currently president and CEO of closed block operations, will succeed Mr. McKenney as the company's CFO on April 1.

Mr. Watjen, who joined the company in 1994 and has served as CEO since 2003, intends to remain a director of the company through the 2017 annual meeting. The board intends to name Mr. Watjen as non-executive chairman as of the 2015 annual meeting. William Ryan, the company's current chairman, will serve as lead independent director until his retirement at age in 2016.

Mr. Ryan said, “Since joining Unum over five years ago, Rick has demonstrated strong leadership and been a big part of the company's success. Rick has the right skills and experience to build on Tom's accomplishments and leverage Unum's unique market position. The board has planned carefully for this leadership succession and we are confident that Rick's deep understanding of the company, and his excellent leadership ability, will position Unum to continue producing strong returns for shareholders. We are also highly confident in Jack's ability to move into the CFO position. He has played a key role in the company's operational and financial management and we look forward to his continued contributions.”

Mr. Ryan continued, “On behalf of the board, I want to thank Tom for his extraordinary service to Unum over his long tenure. His strategic insight and commitment to excellence has not only produced steadily improving operating results and shareholder returns under challenging conditions, but also built Unum into a clear industry leader that is well positioned strategically and financially to capitalize on favorable market dynamics in the years ahead. We are thankful that Unum will continue to benefit from Tom's expertise in his new role as chairman, which will ensure that we have continuity at both the board and management levels.”

Mr. McKenney is executive vice president and chief financial officer for Unum Group. As CFO, Mr. McKenney is responsible for overall financial management of the company, including financial reporting, treasury and capital management, strategic planning and M&A, investments, financial planning, investor relations, and enterprise risk management.

He also chairs Unum's operating committee, which oversees the company's business operations throughout the U.S. and U.K. Prior to joining Unum in 2009, Mr. McKenney was executive vice president and chief financial officer of Sun Life Financial, Inc., an international financial services company based in Toronto. In 2004 he became CFO of Genworth Financial as part of the team that launched its initial public offering from GE. Mr. McKenney began his career at GE, transitioning in his roles from manufacturing to financial leadership. He joined GE Financial Assurance in 1996 and became its CFO in 2002.

Mr. McKenney graduated from Tufts University with a bachelor's degree in mechanical engineering.

Mr. McGarry is president and CEO of closed block operations for Unum Group. The closed block comprises the company's individual disability and long term care legacy business.

An actuary by profession, Mr. McGarry is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries. He has led the closed block since 2012, when he returned to the U.S. after more than two years as president and CEO of Unum UK. Previously, Mr. McGarry was head of risk management for Unum US, where he oversaw claims management activities for the company's U.S. operations.

Mr. McGarry graduated from the University of Vermont with a bachelor's degree in mathematics.

Victoria Spears

Victoria Spears

Victoria Prussen Spears is senior vice president of Meyerowitz Communications Inc., a law firm marketing communications consulting company. A graduate of Sarah Lawrence College and Brooklyn Law School, Ms. Spears was an attorney at a leading New York City law firm before joining Meyerowitz Communications. She may be contacted at [email protected].

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