President of 20th Century to Retire at 65

Melville P. Windle, president and chief operating officer of 20th Century Industries, plans to retire when he reaches age 65 in April, the company has announced. A successor “is expected to be named soon,” the company said.

Windle’s departure, less than two years after he was named president, again raises the question of whether the Woodland Hills-based insurer will appoint a president who also will be the long-term successor to Louis W. Foster, 20th Century’s 78-year-old founder, chairman and chief executive.

Windle had succeeded Neil H. Ashley, who retired at 66 after being the company’s president for only three years. The company’s primary operating unit, 20th Century Insurance Co., has a mandatory retirement age of 65, although its directors make exceptions--most notably in Foster’s case.

Although Windle was not seen as Foster’s long-term successor, his retirement was somewhat unexpected in view of his comments in 1989. Upon being named president, he told The Times that he “didn’t come here to work and then leave at 65.” Windle said then that he joined 20th Century in 1986 after seeing that Ashley had continued working past that age.

Both Windle and Foster declined to be interviewed for this story. But Foster said two years ago that Windle’s appointment would enable 20th Century to continue grooming several younger executives who might eventually head the company.

There’s a “reasonable chance” that one of them will now be tapped as president, said Gerald Lewinsohn, who follows 20th Century for Merrill Lynch & Co. “The company has matured in the last several years and it has some very capable senior people who are younger than Ashley or Windle.”

Foster started 20th Century in 1958. The company has always focused on insuring low-risk customers, keeping costs down--it does not use outside agents--and offering relatively low prices. In 1990, the company earned $98.7 million on revenue of $800 million.