On Friday, Kansas City, Mo.-based bank holding company Commerce Bancsharesannounced that it has promoted Chief Administrative Officer John W. Kemper to the position of president and chief operating officer. Kemper's father, David -- the company chairman and chief executive officer -- is giving up the COO title to his son.
A six-year veteran of his father's company, John Kemper has performed a number of roles at Commerce, including overseeing mergers and acquisitions, running the bank's credit card businesses, and chairing Commerce's private equity subsidiary, Capital for Business. He will now be responsible for directing the company's strategy and line operations.
Before joining Commerce, he worked as an "engagement manager" for McKinsey & Co.
Commerce shares rose 0.2% on the announcement, closing at $38.35 Friday.
The article Commerce Bancshares Names New COO originally appeared on Fool.com.
Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.