CHICAGO--(BUSINESS WIRE)--June 28, 2006--
Unitrin, Inc. (NYSE:UTR) today announced that its
President and Chief Operating Officer, Donald G. Southwell, will
become the company's Chief Executive Officer effective August 2, 2006,
coinciding with the next scheduled meeting of Unitrin's board of
directors. Mr. Southwell will retain his title as President. Current
CEO and Chairman, Richard C. Vie, will continue as executive Chairman.
Mr. Southwell, 55, has been Unitrin's President and Chief
Operating Officer and a director since February 2002, prior to which
he served in a variety of senior operating roles, including head of
the company's insurance operations. Before joining Unitrin in March
1996, Mr. Southwell spent 22 years with the Prudential Insurance
Company of America organization, where he held a number of senior
executive positions, including President of Prudential Insurance and
Financial Services.
Mr. Vie, 68, will retain the office of Chairman of the Board and
continue as a key advisor to the Company on strategic matters. Mr. Vie
joined Unitrin's predecessor company, Teledyne, Inc., in 1983 as
president of its largest life insurance operation. When Unitrin was
spun off from Teledyne in 1990, he became a Senior Vice President of
Unitrin and was named President and CEO in 1992. Mr. Vie has been
Unitrin's Chairman since January 1999.
In commenting on this transition, Mr. Vie stated that "Don
Southwell has a proven track record in building Unitrin's core
insurance businesses and will provide outstanding vision and energy as
Unitrin's CEO. Our Board of Directors has worked diligently with me on
succession planning over the last several years and we are happy to
provide our shareholders with both an orderly transition and the
outstanding leadership capabilities of Don for the years ahead."
Unitrin is a $3 billion financial services company focused on
creating shareholder value by providing a diverse array of insurance
and consumer finance products and services for individuals, families
and small businesses.
Among the brands in Unitrin's Property and Casualty Insurance
businesses are Unitrin Kemper Auto and Home, Unitrin Specialty and
Unitrin Business Insurance, which sell personal and commercial
insurance through a network of independent agents, and Unitrin Direct,
which sells auto insurance directly to consumers. Unitrin's Life and
Health Insurance businesses bring a high-level of personalized service
to their customers. Unitrin's consumer finance subsidiary, Fireside
Bank, specializes in automobile loans for the purchase of pre-owned
vehicles. Additional information about Unitrin is available by
visiting its website (www.unitrin.com).
Source: Unitrin, Inc.