My selection of industri news

April 3, 2009

Conseco Director Refuses to Run For Board Re-election

Filed under: ACCIDENT & HEALTH INSURANCE — KV @ 9:42 pm

On March 23, Conseco, Inc. announced that company Director Michael Shannon has informed them that he does not want to be a candidate for re-election to the organization’s board of directors. The vote will take place on the annual meeting of shareholders set for May 12, 2009.
Shannon intends to give more time for other business interests he may have and it is obvious that the company will miss the skills and expertise he brought to the table. Conseco filed for bankruptcy in 2003 and Shannon was one of the people who helped the company get out of its financial rut. Shannon chaired both the compensation committee and the human resources department and he also served as a member of the governance and strategy committee.

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