Coutu steps down as leader of Kemper; search for new CEO underway
FOR IMMEDIATE RELEASE
LONG GROVE, Ill. – Kemper and Kenning Financial
Advisors, LLC announced today that Acting President, CEO and CFO
Mike Coutu has resigned and that Kemper and Kenning mutually terminated
the contract under which Kenning provided management services for
Kemper's run-off planning and operations. A search for a new Kemper
CEO is currently underway, and the selection process is expected
to be completed soon. In the meantime, the company's current management
team will report to COO Doug Andrews.
"We asked Mike Coutu to map out a run-off plan for Kemper,
and he has done that with the concurrence of the Illinois Division
of Insurance and certain other states as members of the National
Association of Insurance Commissioners," said Kemper Chairman
David B. Mathis. "Our policyholders were fortunate to have
Mike’s leadership at recent critical times for our company,
and we are grateful for all his contributions and the experience
and expertise that he and Kenning brought to us. As we move deeper
into implementing the plan he developed, Mike and the board of directors
agreed that it was a good time for transition."
Some members of the Kenning team will remain with Kemper to assist
in the ongoing run off.
For further information about Kemper, visit its website at