Unum CEO gets $750,000 pay raise

photo Tom Watjen, chief executive officer of the Unum Group

Tom Watjen, president and CEO of Chattanooga-based Unum, received a $750,000 boost to his compensation in 2011 for a total of $12.2 million.

The raise, which came mainly in the form of restricted stock units and stock options, was because of Watjen's increased performance in a tough economy, according to the company's compensation committee.

The company noted that Watjen "delivered strong results in a difficult environment," and "ensured that the company is well positioned to meet the future needs of the business."

Watjen, who has stayed with the company for 18 years, receives a $1.1 million salary with the rest of his pay in the form of cash and stock incentives based on performance, according to Unum's proxy statement.