Kemper's Smith Retires; Mathis Remains
By Mark E. Ruquet
NU Online News Service, Dec. 31, 12:45 p.m. EST?Kemper Insurance Companies announced that William D. Smith, president and chief operating officer, is retiring.
The Long Grove, Ill.-based insurer said his retirement is effective the end of 2002.
David B. Mathis, chairman and chief executive officer, wished him well and thanked Mr. Smith for his six years of service to Kemper.
Kemper said Mr. Mathis is postponing his own retirement to continue in his current position "for the foreseeable future." Mr. Mathis, who joined Kemper in 1956, became its president, chairman and CEO in 1996, and was to retire in April of 2003. He was to be replaced by Mr. Smith.
Mr. Smith joined Kemper in 1996 as chairman and chief executive officer after many years of service with New York-based insurer AIG.
The COO position would "remain vacant for the time being," Kemper added.
The company also announced that Mr. Mathis has formed an office of the chairman to "focus on strategic direction and ongoing operations issues."
The office will consist of Mr. Mathis; Dennis R. Brand, senior vice president and chief risk officer; Patricia A. Drago, executive vice president and leader of Kemper's client services group; William A. Hickey, executive vice president and chief financial officer; Robert A. Lindemann, senior vice president and president of American Manufacturers' Mutual Insurance Co.; and Gary J. Tully, senior vice president and president of Kemper Financial Protection and Kemper International.
The announcement comes on the heels of lower rating announcement by Standard & Poor's and A.M. Best last week on the company's Intercompany Pool (See NU Online, Dec. 26).
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