Kemper announces departure of executive vice president Duane A. Sanders

Kemper Corporation (NYSE:KMPR) reported the upcoming departure of Duane A. Sanders from his position as Executive Vice President and Chief Claims Officer, Property & Casualty, effective Wednesday. According to a statement based on a Securities and Exchange Commission filing, Mr. Sanders will continue with the company as Executive Vice President, Executive Advisor until December 31, 2025, to assist with the transition of his responsibilities.

The company stated that Mr. Sanders’ departure is being treated as a termination without cause. Kemper expects to enter into a Separation and Release Agreement with Mr. Sanders, under which he will receive compensation and benefits to be determined by the company. The agreement will require Mr. Sanders to sign a release of claims and agree to certain restrictive covenants in favor of Kemper. Details of the compensation and terms will be disclosed in a subsequent Form 8-K filing.

Kemper Corporation, headquartered in Chicago, is listed on the New York Stock Exchange under the symbols KMPR and KMPB. This information is based on a press release statement contained in the company’s SEC filing.

In other recent news, Kemper Corporation has experienced significant developments. The company announced the immediate departure of CEO and President Joseph Lacher, who will remain in an advisory role until the end of 2025 to aid the transition. C. Thomas Evans, Jr., the Executive Vice President, Secretary, and General Counsel, has been appointed as Interim CEO while the board searches for a permanent replacement. In financial news, Kemper has entered into a $150 million accelerated share repurchase agreement with Goldman Sachs, expecting an initial delivery of over 2.2 million shares. Analyst firm Raymond James downgraded Kemper’s stock from Outperform to Market Perform following Lacher’s departure. Additionally, the firm had previously downgraded Kemper from Strong Buy to Outperform, citing challenges in the Non-Standard Personal Auto market. These recent changes reflect ongoing adjustments within the company amid market challenges.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.