Ronald O'Hanley
UnumAbout Ronald P. O’Hanley
Ronald P. O’Hanley is an independent director of Unum Group, serving since 2015; he is age 68 as of the 2025 Annual Meeting . He is Chairman, President and CEO of State Street Corporation and previously led State Street Global Advisors; earlier roles include senior positions at Fidelity, BNY Mellon, and McKinsey & Company . His disclosed board qualifications span Accounting/Auditing, Business Operations, Capital Management, CEO/CFO experience, Corporate Governance, Insurance/Financial Industry, International, Investment Markets, and Regulatory/Risk Management .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| State Street Corporation | Chairman (since 2020); President & CEO (since 2019); President & COO (2017–2018); Vice Chairman (2017) | 2017–present | Executive leadership of global financial services; risk, financial, operational oversight |
| State Street Global Advisors | President & CEO | 2015–2017 | Led global investment management arm |
| Fidelity Investments | President of Asset Management & Corporate Services; Executive Committee member | 2010–2014 | Oversight of asset management operations |
| BNY Mellon; McKinsey & Company | Senior leadership roles | N/A | Strategy and operating leadership in financial services |
External Roles
| Entity | Role | Since | Notes |
|---|---|---|---|
| State Street Corporation (public) | Director; Chairman of the Board | Director since 2019; Chairman since 2020 | Concurrent CEO/Chair at STT |
Board Governance
- Independence: The Board determined Mr. O’Hanley is independent under NYSE standards and is listed as independent in the proxy summary .
- Committee assignments: Governance Committee (member) and Human Capital Committee (member); not a chair .
- 2024 committee meeting cadence: Governance (4), Human Capital (6) .
- Attendance: Board met 8 times in 2024; average director attendance exceeded 99%, and each incumbent attended at least 94% of their meetings .
- Executive sessions: Independent directors met in executive session five times in 2024 (chaired by independent Board Chair) .
- Board leadership context: Independent Chair; all directors other than the CEO are independent; anti-hedging/anti-pledging policies apply to directors .
Fixed Compensation (Director)
| Component | 2024 Amount | Detail |
|---|---|---|
| Annual cash retainer | $125,000 | Standard cash retainer for non-employee directors |
| Annual RSU award | $175,000 | Standard equity award value for non-employee directors |
| Committee chair add’l retainer | $25,000 | Applies to committee chairs (not applicable to O’Hanley in 2024) |
| Board Chair add’l retainer | $225,000 (50% cash/50% equity) | Not applicable to O’Hanley |
| Ronald P. O’Hanley – 2024 Director Compensation | Amount ($) |
|---|---|
| Fees Earned or Paid in Cash | 125,000 |
| Stock Awards (FASB ASC 718) | 174,987 |
| All Other Compensation (matching gifts program/UnumPAC match) | 10,000 |
| Total | 309,987 |
- Grant detail: On May 23, 2024, each non-employee director received 3,342 RSUs under the 2022 Stock Incentive Plan (value reflected above); dividends on director RSUs accrue in cash and pay at vesting .
Performance Compensation (Director)
| Equity Type | Grant Date | Units/Value | Vesting/Performance Terms |
|---|---|---|---|
| RSUs (annual director grant) | May 23, 2024 | 3,342 units; grant-date value included in $174,987 above | Dividends accrue in cash and pay at vest; the proxy does not describe any performance metrics for director RSUs |
- Options: No option awards are listed for non-employee directors in the 2024 director compensation table .
Other Directorships & Interlocks
| Category | Detail |
|---|---|
| Current public boards | State Street Corporation (Director since 2019; Chairman since 2020) |
| Compensation Committee interlocks | During 2024, Mr. O’Hanley served on Unum’s Human Capital Committee; the proxy reports no executive officer interlocks with other companies’ boards/compensation committees |
Expertise & Qualifications
- Disclosed board qualifications: Accounting/Auditing; Business Operations; Capital Management; CEO/CFO Experience; Corporate Governance Leadership; Insurance/Financial Industry Experience; International; Investment Markets; Other Recent Public Company Board Experience; Regulatory/Risk Management .
Equity Ownership
| Ownership Item (as of March 24, 2025) | O’Hanley |
|---|---|
| Common shares | 11,006 |
| Shares subject to settleable rights/units (within 60 days) | 15,826 |
| Total beneficially owned | 26,833 |
| Percent of class | <1% |
| Deferred share rights (total held; includes non-settleable) | 15,826 |
| RSUs not vesting/settling within 60 days | 12,186 |
| Pledged shares | Company states it does not believe any director/executive shares are pledged ; Directors are prohibited from pledging company stock |
| Director ownership guideline | 5x annual cash retainer = $625,000 requirement |
| Guideline compliance | As of Dec 31, 2024, each non-employee director met the ownership requirement |
Governance Assessment
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Independence and time commitment: Independent since joining in 2015; serves on two key committees (Governance and Human Capital), consistent with expertise in governance and compensation oversight .
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Attendance/engagement: Board/committee attendance robust in 2024 (>99% average; each incumbent ≥94%), with five independent executive sessions—a positive signal for oversight quality .
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Compensation alignment: Balanced cash/equity mix (approx. $125k cash / $175k equity), with annual RSU grants; no director options disclosed; matching gifts are modest and programmatic .
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Ownership alignment and risk controls: Meets stringent director ownership guidelines; anti-hedging and anti-pledging policies in place; company reports no pledging by directors/executives .
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Interlocks/related party exposure: No compensation committee interlocks disclosed; related party transaction review policy in place with Audit Committee; independence determinations consider ordinary-course dealings under a <1% revenue threshold, and the Board deemed all non-employee directors (including O’Hanley) independent .
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Shareholder support signal: Say-on-Pay support of 93% in 2024; ongoing shareholder outreach underscores engagement quality (context for Human Capital oversight where O’Hanley serves) .
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RED FLAGS
- None identified in the proxy for O’Hanley: high attendance at the board level, no pledging, independence affirmed, no interlocks disclosed, and standard director pay structure without option repricing or unusual features .
Notes on scope: The proxy does not disclose education details for Mr. O’Hanley; it does not list any director-specific related-party transactions involving him; and it does not provide individual director attendance percentages beyond the aggregate and minimum thresholds reported for 2024 .