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Rating:Delaware's Investment Head Plans Retirement Not Rated 3.0 Email Routing List Email & Route  Print Print
Friday, November 17, 2000

Delaware's Investment Head Plans Retirement

Reported by Tamiko Toland

Dick Unruh, CEO of Delaware Investments' investment arm, is retiring in the spring. While the announcement comes amid a host of changes for the company, Delaware spokesman Tom Gariepy said that Unruh's departure is unrelated. In an October letter to some of the company's clients, Unruh stated his plans to retire. For the moment, Delaware is unsure how to respond to the departure.

"I can't tell you what's going to happen to his position," Gariepy said. "When you're undergoing as much change as Delaware is, when a person leaves, you have to say, 'What is it that this person does? Do we need to hire somebody? Do we need to restructure?'"

Presently, Unruh handles mainly institutional clients, so his duties may be shunted to other executive positions. Lincoln Investment Management, which primarily handles fixed income, will be merged into Delaware Investments by the end of the year. Parent company Lincoln National Investment Companies has prepared for an overhaul by hiring twenty Conseco employees this year. The end is not in sight: CEO Ed Haldeman, at the helm since June, is mastering a turnaround for the companies. Gariepy hinted, "Watch this site!"  

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