Kemper Corp. said last week that three of the top executives of its money management unit resigned.
The executives are Charles M. Keirscht, chairman and chief executive officer and director of Kemper mutual funds; Sandy Lincoln, chief investment officer of Kemper Financial; and Robert T. Jackson, a senior executive vice president.
Kemper spokesman Ira Nathanson said the company did not know the reason for the resignations.
The company, based in Long Grove, Ill., is a leading seller of mutual funds through banks, and is the parent company of Invest Financial Corp., an investment marketing firm with 240 client banks, thrifts, and credit unions.
Kemper announced that Stephen B. Timbers, president and chief operating officer of the company, will take Mr. Keirscht's place as chairman and chief executive at Kemper Financial.
Mr. Timbers will also serve, on an interim basis, as chief investment officer, until a replacement for Mr. Lincoln is found. Mr. Jackson's responsibilities will be reassigned to current Kemper Financial management, the company said.
Two weeks ago, Jack Neal was named president and chief operating officer of the money management unit.
Kemper has much been in the news since it went up for sale last year. First it fended off a hostile takeover from General Electric Co., then it saw a deal with Conseco Inc., an insurance company based in Carmel, Ind., come undone.