The move comes as corporations and sports teams around the country face increasing pressure to dump nicknames and depictions that reference American Indians amid a nationwide movement calling for racial justice.
“We believe the decision to retire our corporate symbol is the right thing to do and is consistent with our values and our desire to help overcome racial bias and stereotypes,” Mutual of Omaha CEO and Chairman James Blackledge said in a news release Friday.
The Omaha, Nebraska-based company is in the process of creating a new logo.
Blackledge said the company also is committing an additional $1 million to the $2 million is donates annually to community-based initiatives to address racial equality and social justice. The company’s management team will also undergo additional training on diversity and inclusion, including unconscious bias training, the company said.
Mutual first adopted its Indian chief head logo in 1950, according to its website. The company has said the chief logo was intended to represent the Plains Indians and their values of strength of character, honesty and care for their members, according to the Omaha World-Herald.