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Kemper Corporation announced a leadership change. On October 14, 2025, the Board determined that Joseph P. Lacher, Jr. would depart as President and CEO, effective immediately, and he resigned from the Board the same day. He will serve as a non‑executive advisor through December 31, 2025 to support the transition.
The Board appointed C. Thomas Evans, Jr., age 66, as interim President and CEO, effective October 14, 2025. The Board formed a committee to identify the next CEO and plans to engage a global executive search firm.
In connection with a termination without cause, Mr. Lacher entered into a Separation and Release Agreement providing a cash severance of $5,720,000 (equal to two times base salary and target bonus), continued eligibility for a 2025 annual bonus based on actual financial goal achievement and target achievement of strategic goals, a lump sum equal to the employer portion of 24 months of healthcare coverage, and up to 12 months of outplacement services. Certain outstanding equity awards will remain outstanding and continue to vest per their terms, subject to compliance with restrictive covenants.
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