Richard McKenney

Richard McKenney
Birthplace	Eliot, Maine, United States
Nationality	American
Occupation	President and CEO of Unum Group
Title	President and Chief Executive Officer, Unum Group
Known for	Leading Unum Group as President and CEO

Richard P. "Rick" McKenney is an American business executive who has served as the President and Chief Executive Officer of Unum Group, one of the largest providers of disability insurance and employee benefits in the United States. A native of Eliot, Maine, McKenney rose through the ranks of the American insurance and financial services industry, holding senior financial leadership positions at Genworth Financial and Sun Life Financial before joining Unum as its chief financial officer in 2009. In February 2015, he was named to succeed Thomas R. Watjen as CEO, formally assuming the role in May of that year. Under his leadership, Unum Group—headquartered in Chattanooga, Tennessee—continued to operate as a major publicly traded company listed on the New York Stock Exchange under the ticker symbol UNM. McKenney was recognized as a member of the Wall Street Journal CEO Council in 2016, placing him among a select group of corporate leaders convened to discuss issues of national and global economic importance.

Early Life

Richard McKenney was born and raised in Eliot, Maine, a small town in York County in the southernmost part of the state, near the New Hampshire border. Eliot is a rural community with a population that has historically numbered in the low thousands, and McKenney's upbringing in this setting preceded a career that would take him to major financial centers across the United States.

Details about McKenney's parents, siblings, and early childhood have not been widely reported in public sources. His Maine roots, however, became a point of note when he was named CEO of Unum, with regional media in Maine highlighting the fact that a native of the state had risen to lead one of the largest insurance companies in the country. The Portland Press Herald described him as a "Maine native" in its coverage of his appointment, reflecting a degree of local pride in his accomplishments.

Career

Early Financial Career

Before joining Unum Group, McKenney built a career in financial leadership roles within the insurance and financial services industries. He served as chief financial officer at Genworth Financial, a Fortune 500 insurance holding company based in Richmond, Virginia, that provides life insurance, long-term care insurance, and mortgage insurance products. He also held the CFO position at Sun Life Financial, a Canadian financial services company with significant operations in the United States. These roles provided McKenney with extensive experience in corporate finance, risk management, and the strategic oversight of large insurance enterprises, preparing him for his subsequent leadership positions at Unum.

Chief Financial Officer of Unum Group

In September 2009, McKenney was appointed chief financial officer of Unum Group, taking over the financial stewardship of the Chattanooga-based disability insurance company. The Chattanooga Times Free Press reported on his arrival, noting that he was assuming a critical position at a company that was navigating the aftermath of the global financial crisis.

As CFO, McKenney was responsible for overseeing Unum Group's financial reporting, capital management, investment portfolio, and strategic financial planning. His tenure in this role spanned approximately six years, during which the company worked to stabilize and grow its business in the challenging post-recession environment. His performance as CFO was a significant factor in his eventual selection as the company's next chief executive officer.

Appointment as President and CEO

On February 3, 2015, Unum Group announced that Richard McKenney had been named the company's next President and Chief Executive Officer, succeeding Thomas R. Watjen, who was stepping down from the role he had held for more than a decade. The announcement was covered by multiple regional and national news outlets, reflecting the significance of the leadership transition at one of the largest employee benefits providers in the United States.

The Chattanooga Times Free Press reported that McKenney was "tapped" by the company's board of directors to lead Unum, noting that the selection of the sitting CFO represented an internal promotion and a vote of confidence in the company's existing strategic direction. The Portland Press Herald in Maine highlighted McKenney's roots in Eliot, drawing attention to the fact that a native of the small Maine town had been chosen to run a major publicly traded corporation.

McKenney formally assumed the role of President and CEO in May 2015, completing a transition period during which he worked alongside his predecessor. The Chattanooga Times Free Press covered the handover, reporting that McKenney had taken the helm of the company, which at the time was one of the largest employers in the Chattanooga metropolitan area.

The leadership change at Unum was also included in a year-end review of notable executive transitions in the Chattanooga business community for 2015, with the Times Free Press listing McKenney's ascension among the significant changes in local corporate leadership that year.

Leadership of Unum Group

As President and CEO, McKenney led Unum Group through a period that included continued growth in the company's core disability and employee benefits businesses. Unum Group, which operates through its subsidiaries Unum US, Unum UK, and Colonial Life, provides a range of financial protection benefits including group and individual disability insurance, life insurance, accident insurance, critical illness insurance, and dental and vision coverage.

McKenney's compensation as CEO was the subject of public reporting. In 2016, the Chattanooga Times Free Press reported that he was among the highest-paid CEOs in the Chattanooga area. In April 2017, the same publication reported that McKenney was paid $8.7 million in total compensation for the prior fiscal year, a figure that came after a period of rising company stock prices and profits. The compensation package reflected the company's performance under his leadership, with both the stock price and profitability showing positive trends during this period.

McKenney also engaged in public commentary on national economic and policy issues during his tenure. In December 2016, Fortune published a video interview in which he discussed the potential economic implications of the incoming administration of Donald Trump, offering his perspective as the leader of a major insurance company on the broader business environment.

As a publicly traded company, Unum Group's executive stock transactions are matters of public record filed with the U.S. Securities and Exchange Commission. In September 2024, it was reported that McKenney executed a sale of 67,795 shares of Unum Group stock, a transaction that was disclosed in regulatory filings and subsequently covered by financial news outlets. Such insider transactions are routine for senior executives at publicly traded companies and are subject to disclosure requirements under federal securities law.

Personal Life

Richard McKenney was born in Eliot, Maine, a small town in the southernmost region of the state. Beyond his birthplace, details about McKenney's personal life—including his family, marital status, and private interests—have not been extensively documented in publicly available sources. He relocated to the Chattanooga, Tennessee area upon joining Unum Group, consistent with the company's headquarters location in that city.

McKenney has maintained a relatively low public profile outside of his corporate responsibilities, with his media appearances primarily focused on business and economic topics related to Unum Group and the insurance industry.

Recognition

In 2016, Richard McKenney was named a member of the Wall Street Journal CEO Council, a group of chief executives from major corporations who are convened by the newspaper to discuss pressing economic, policy, and business issues. Membership in the CEO Council is extended to leaders of significant companies and serves as a forum for dialogue on topics affecting the national and global economy. McKenney's inclusion in the 2016 cohort placed him alongside other leaders of major American and international corporations.

His compensation as Unum CEO placed him among the highest-paid chief executives in the Chattanooga business community. In 2016, the Chattanooga Times Free Press identified him as one of the top-compensated CEOs in the region, and in 2017, the same publication reported his total compensation at $8.7 million following a year of strong company performance.

McKenney's appointment as CEO of Unum Group was itself a notable event in the Maine business community, with the Portland Press Herald covering the news and highlighting that a native of the small town of Eliot had risen to lead a Fortune 500-level insurance company.

Legacy

Richard McKenney's career trajectory—from financial leadership roles at Genworth Financial and Sun Life Financial to the chief financial officer position and ultimately the presidency and CEO role at Unum Group—represents a path through several of the major institutions of the American insurance industry. His appointment as CEO of Unum in 2015 marked the continuation of stable leadership at a company that is one of the primary providers of disability insurance and employee benefits in the United States and the United Kingdom.

Under McKenney's leadership, Unum Group maintained its position as a significant employer in Chattanooga, Tennessee, and as a major player in the employee benefits market. The company's performance during his tenure, as reflected in rising stock prices and profitability reported in 2017, contributed to the broader stability of the disability insurance sector.

McKenney's inclusion in the Wall Street Journal CEO Council in 2016 reflected his standing within the broader American corporate leadership community and provided a platform for him to contribute to discussions on economic policy and business strategy at a national level. His career also drew attention to the state of Maine as a place of origin for national business leaders, with his hometown of Eliot gaining recognition through media coverage of his corporate achievements.