Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

Unum's CEO to retire

By Associated Press

X
Your article was successfully shared with the contacts you provided.

PORTLAND, Maine (AP) — Unum Group said Thursday that one of its top executives will depart the insurance company.

The company said that Kevin McCarthy, chief operating officer of the company and CEO of its Unum US operating unit, plans to retire in the first quarter of 2014. He is stepping down from his role as CEO of Unum US in July, while maintaining his position as chief operating officer of Unum Group.

Michael Simonds, currently chief operating officer of Unum US, will succeed McCarthy as CEO of that unit.

The company also announced Thursday, as part of its annual meeting, that it will increase its quarterly dividend by 11.5 percent. The new divided of 14.5 cents per share will take effect in the third quarter.

This is the fifth consecutive year in which Unum has raised its dividend.

Shares of the Portland, Maine-based company’s shares fell 4 cents to $27.55 by midmorning, in line with broader market activity.

Related news:

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.