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Oppenheimer Veteran To Head UnumProvident Board

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The largest U.S. disability insurer is getting a new top director.

Jon Fossel, the former chairman of Oppenheimer Management Corp., Denver, will be succeeding C. William Pollard as the non-executive chairman of the board of UnumProvident Corp., Chattanooga, Tenn., UnumProvident says.

Thomas Watjen will continue to be UnumProvident’s chief executive officer.

Pollard, 68, has served on the company’s board since 1992 and has been non-executive chairman since 2003. He also is the former chairman of the ServiceMaster Company, Downers Grove, Ill.

“Pollard is retiring to spend more time with his family and to focus on other endeavors,” UnumProvident says.

Fossel, 64, joined the UnumProvident board in 2002 and is chairman of the board’s finance committee.

Fossel retired from his role as Oppenheimer’s chairman in 1996. He continues to be a trustee of some Oppenheimer funds, and he is a director of Northwestern Corp., Sioux Falls, S.D., an electricity and natural gas provider.

Fossel is a past chairman of the Investment Company Institute, Washington.