Wednesday, May 26, 2004

American United Life CEO plans to step down

The Associated Press

INDIANAPOLIS - American United Life Insurance Co. said Tuesday that Jerry Semler will step down as chief executive on Sept. 1 but remain board chairman.

The company's executive vice president, Dayton Molendorp, will become CEO.

AUL also said Steve Radcliffe will step down as president in advance of his planned Dec. 31 retirement and will become vice chairman of the board.

Semler, 67, who joined AUL in 1959, was named president in 1980, CEO in 1989 and board chairman in 1991. He also has taken part in many industry and civic organizations in the Indianapolis area, where AUL employs 1,360 of its 1,730 employees.

Many of those employees work in AUL's 38-story office tower in downtown Indianapolis. Others are employed at 20 regional offices nationwide.

Molendorp, 57, joined AUL in 1987 and became a senior vice president in 1999. In 2003, he was named AUL's executive vice president and president of AUL's The State Life Insurance Co.

A company news release said Semler had put AUL in the strongest financial position of its history, which the company can trace back to 1877. AUL's assets have grown from about $1 billion at the beginning of his executive tenure to more than $14 billion now, with annual revenues of $1 billion.

AUL and its subsidiaries, including OneAmerica Financial, offer 401(k) plans as well other retirement savings and annuities in addition to individual, group and credit insurance policies.

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American United Life CEO plans to step down
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