Business Services Industry
UnumProvident's Board Sticks with Interim President as Permanent Chief.
Knight Ridder/Tribune Business News, September, 2003
By Edward D. Murphy, Portland Press Herald, Maine Knight Ridder/Tribune Business News
Sep. 30--UnumProvident's board of directors opted for the familiar Monday, selecting Thomas R. Watjen as the insurance company's president and chief executive officer.
Lawrence Pugh, the company's co-chair and a resident of Yarmouth, cited Watjen's character, his performance since taking over as interim president and CEO six months ago, his ability to raise $1 billion to shore up corporate capital reserves and a new corporate atmosphere of openness as the chief reasons for the selection.
Pugh said the board thought about whether it needed to make a change at the top just to satisfy critics of the company's policies and poor stock performance, and...
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