April 21, 2004
Acting President, CEO and CFO Michael A. Coutu
announced the members of his senior management team who will guide
Kemper’s run-off. The team is comprised of professionals from Kenning
Financial Advisors, LLC, the firm headed by Mr. Coutu that Kemper
retained last November to provide run-off expertise and services,
and experienced Kemper executives. It includes:
- Doug Andrews (Kenning), who will serve as chief operating officer.
Doug will be responsible for the functions most critical to a
successful run-off, including reinsurance recoverables, claims,
reinsurance commutations and policy buybacks.
- Harold Marsh (Kenning), who, as Kemper’s chief administrative
officer will oversee regulatory and corporate affairs, surety,
underwriting, real estate, human resources, corporate communications
and information technology.
- Dennis Wong (Kemper) has been elected vice president and treasurer.
He will oversee Kemper’s corporate finance unit, including procurement/disbursements,
treasury, internal audit, taxes, investments and financial reporting.
- Fred Kist (Kemper), who will continue to serve as chief actuary
and lead the statistical/actuarial department.
- Benjamin (Bud) Schwartz (Kenning) has been appointed as transactional
counsel and will supervise Kemper’s legal team other than with
respect to regulatory and corporate affairs, which will remain
under John Conway (Kemper).
”I’m confident that this is the right management
team to lead Kemper as we move deeper into the execution phase of
the run off,” said Coutu.
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