Kemper Corporation (NYSE:KMPR) shares slipped 1% on Wednesday after the insurer announced that President and CEO Joseph P. Lacher, Jr. has stepped down from his leadership role and resigned from the Board of Directors, effective immediately.
Lacher, who has led the company for nearly a decade, will remain in an advisory role through the end of 2025 to assist with the leadership transition. The Board named C. Thomas Evans, Jr., currently Executive Vice President, Secretary, and General Counsel, as Interim CEO while it launches a formal search for a permanent successor.
“On behalf of the Board, I want to thank Joe for a decade of dedicated leadership at Kemper and his support throughout this transition,” said Gerry Laderman, Chairman of the Board. “We appreciate his guidance through challenging periods, including the extraordinary disruptions of the COVID-19 pandemic.”
Evans, a Kemper veteran who joined the company in 1992 and has held multiple leadership positions, struck an optimistic tone despite the executive shake-up. “While we are operating in a dynamic environment, I’m confident that our solid foundation and competitive advantages position us for long-term success,” he said.
The company plans to provide a financial update during its third-quarter earnings call in early November. The Board has also formed a CEO search committee tasked with identifying a leader to guide Kemper into “its next chapter of profitable growth,” according to Laderman.
Kemper Corporation stock price
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