Conseco Inc., the Carmel-IN- headquartered insurance and investments company today announced the departure of chairman and chief executive officer
Stephen Hilbert and chief financial officer
Rollin Dick.
"Over the last few quarters it became clear that my and Rollie's ability to engender investor confidence was impaired," Hilbert said in a statement. Hilbert and Dick are two of the company's biggest shareholders.
Stepping in as interim chairman and CEO will be
David Harkins, the president of
Thomas H. Lee Partners and a Conseco director since the Boston firm bought $500 million worth of Conseco stock in November 1999.
Thomas Hagerty, a managing director of Thomas H. Lee Partners, has also been elected to Conseco's board of directors.
An internal committee, working with the board of directors, has begun a search for a new CEO and CFO for Conseco and will consider both internal and external candidates.
The company's stock was trading at 5 3/8 at noon, down from a 52- week high of 35 5/16. 
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