Jefferson-Pilot CEO plans to step down

[turlough]

GREENSBORO, N.C., Dec. 10 - David Stonecipher will step down as chief executive at life insurance company Jefferson-Pilot Corp. on March 1, after which he will remain chairman, the company said Wednesday. Stonecipher, 62, became chief executive in 1993 and assumed the title of chairman five years later at the Greensboro, N.C.-based company. President and chief operating officer Dennis Glass will take over for Stonecipher as CEO, the company said. Glass also will join the board of directors, effective March 1. Glass, 54, also will retain the title of president. "Jefferson-Pilot is fortunate to have a very strong management team that has been together now for almost 11 years, and Dennis has been a leading team member from the very beginning," Stonecipher said. Glass joined the company in 1993 and served as chief financial officer and in other roles. In 2001, he was named president and COO. Shares in the company rose 23 cents to $48.87 in midday trading on the New York Stock Exchange.

[cityboi]

Hopefully this change will be for the better.