MutualFundWire.com: Conseco CEO and CFO Depart

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Friday, April 28, 2000

Conseco CEO and CFO Depart

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.

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"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.

Printed from: MFWire.com/story.asp?s=25474

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