Richard McKenney

Richard McKenney
Birthplace	Eliot, Maine, United States
Nationality	American
Occupation	President and CEO of Unum Group
Employer	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 roles at Genworth Financial and Sun Life Financial before joining Unum as Chief Financial Officer in 2009. In February 2015, Unum announced that McKenney would succeed Thomas R. Watjen as CEO, and he formally assumed the role in May of that year. Under his leadership, Unum Group, headquartered in Chattanooga, Tennessee, has continued to operate as a major force in the employee benefits sector. McKenney has been recognized for his role in the broader business community, including membership in the Wall Street Journal CEO Council in 2016.

Early Life

Richard McKenney was born and raised in Eliot, Maine, a small town in York County in the southernmost part of the state. His roots in Maine were noted in regional press coverage when he was named CEO of Unum, with the Portland Press Herald identifying him as a "Maine native" in its headline announcing his appointment. Beyond his birthplace, publicly available information about McKenney's childhood, family background, and early years in Eliot is limited in the sourced record. His trajectory from a small New England town to the leadership of a Fortune 500 insurance company was a point of interest in Maine-based media coverage of his career.

Career

Early Financial Leadership

Before joining Unum, McKenney built a career in senior financial management roles within the insurance and financial services industry. He served as Chief Financial Officer of Genworth Financial, a major insurance holding company, and also held the CFO position at Sun Life Financial, a Canadian-headquartered international financial services company. These positions gave McKenney extensive experience in corporate finance, insurance operations, and strategic planning at large publicly traded companies.

Chief Financial Officer of Unum Group

In September 2009, McKenney joined Unum Group as its Chief Financial Officer, succeeding in the role at a time when the company was navigating the aftermath of the global financial crisis. The Chattanooga Times Free Press reported on his arrival, noting his background at Genworth Financial and Sun Life Financial as key qualifications for the position. As CFO, McKenney was responsible for overseeing Unum's financial operations, including its investment portfolio, capital management, and financial reporting. He held the CFO position for approximately six years, a period during which he developed a deep understanding of Unum's business lines and strategic direction.

His tenure as CFO was widely viewed within the company and by analysts as effective preparation for eventual leadership of the entire organization. During these years, McKenney worked closely with then-CEO Thomas R. Watjen and the rest of the senior leadership team, gaining visibility with the board of directors and institutional investors.

Appointment as President and CEO

On February 3, 2015, Unum Group announced that its board of directors had selected Richard McKenney to succeed Thomas R. Watjen as the company's next President and Chief Executive Officer. The transition was structured to allow for an orderly handoff; McKenney officially assumed the CEO role in May 2015, while Watjen continued to serve in an advisory capacity during the transition period.

The Chattanooga Times Free Press reported on the leadership change, noting that McKenney's appointment followed a thorough succession planning process by the board. Watjen had led Unum since 2003, guiding the company through a period of stabilization after regulatory challenges in the early 2000s related to the company's disability claims handling practices. McKenney's selection signaled continuity in the company's strategic direction while bringing a fresh perspective shaped by his broad experience across the financial services industry.

The Portland Press Herald highlighted McKenney's Maine origins in its coverage of the announcement, noting the local pride associated with a native of Eliot ascending to lead a major publicly traded corporation. The Chattanoogan.com, a Chattanooga-based news outlet, also covered the appointment, emphasizing the significance of the CEO transition for the city's largest public company.

McKenney formally took the helm as CEO in May 2015. The Chattanooga Times Free Press included him in its year-end review of leadership changes in the Chattanooga business community for 2015, identifying his ascension as one of the most significant executive transitions of the year in the region.

Leadership of Unum Group

As President and CEO, McKenney assumed responsibility for leading a company with thousands of employees and operations across the United States and the United Kingdom. Unum Group, traded on the New York Stock Exchange under the ticker symbol UNM, is a holding company whose principal subsidiaries include Unum US, Unum UK, and Colonial Life & Accident Insurance Company. The company provides a range of financial protection benefits, including disability, life, accident, and critical illness insurance, primarily sold through the workplace.

McKenney's compensation as CEO attracted attention in regional business coverage. In 2016, the Chattanooga Times Free Press reported on CEO pay in the Chattanooga area, including McKenney's compensation package, which placed him among the highest-paid executives in the city. In April 2017, the same publication reported that McKenney was paid $8.7 million in total compensation for the prior year, a figure that reflected increases in company stock price and profits during his tenure.

McKenney has continued to serve as President and CEO of Unum Group in subsequent years. In September 2024, a filing reported by Yahoo Finance disclosed that McKenney executed a sale of 67,795 shares of Unum Group stock on September 5, 2024, a transaction consistent with the types of insider sales periodically made by senior executives of publicly traded companies. The filing confirmed McKenney's continued role as President and CEO of the company as of that date.

Public Commentary and Industry Engagement

In late 2016, McKenney appeared in a Fortune video segment discussing the incoming administration of President Donald Trump and its potential implications for the business community and the insurance industry. The appearance reflected McKenney's growing profile as a commentator on policy issues affecting the employee benefits sector.

McKenney's engagement with the broader business community was further demonstrated by his inclusion as a member of the Wall Street Journal CEO Council in 2016. The CEO Council is an invitation-based group of senior executives who convene to discuss issues of national and global significance, and membership is considered a mark of standing within the American corporate landscape.

Recognition

McKenney's leadership at Unum Group and his broader career in financial services have brought him recognition in several contexts. His appointment as CEO of Unum was covered by multiple news outlets in both Chattanooga, Tennessee, where Unum is headquartered, and in Maine, where he grew up, reflecting the significance of the role and the interest in his background.

In 2015, the Chattanooga Times Free Press named McKenney's ascension to the CEO role as one of the key leadership changes of the year in the Chattanooga business community. The following year, he was identified as one of the highest-paid CEOs in the Chattanooga area, and in 2017, his compensation of $8.7 million was reported in the context of rising stock prices and profits at Unum.

His membership in the Wall Street Journal CEO Council in 2016 placed him among a select group of American corporate leaders convened by one of the nation's leading business publications. His appearance in Fortune video coverage further reflected his visibility as a CEO of a major publicly traded company.

Personal Life

Richard McKenney was born in Eliot, Maine. Beyond his birthplace, publicly documented details about McKenney's personal life, including information about his family, are limited in the available sourced record. His Maine roots have been a recurring theme in press coverage of his career, with regional media in both Maine and Tennessee noting his small-town New England background as context for his rise to lead one of the country's largest insurance companies.