Conseco Names Gary Wendt as Chairman and CEO.Business Editors CARMEL, Ind.--(BUSINESS WIRE)--June 29, 2000 David V. Harkins, interim chairman and chief executive officer of Conseco, Inc. (NYSE NYSE See: New York Stock Exchange :CNC (Computerized Numerical Control) See numerical control. CNC - Collaborative Networked Communication ), today announced that Gary C. Wendt has been named chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Conseco. The appointment is effective immediately. Mr. Wendt is the former chairman and CEO of GE Capital Services. Harkins said, "When I agreed two months ago to become interim chairman, it was with the understanding that Conseco would conduct a rigorous search for a top-flight CEO with proven experience in realizing value from financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. assets. I am delighted that the board has approved my first choice for the job - Gary Wendt. Gary has clearly demonstrated the ability to run a major financial services company. During his 15-year tenure running GE Capital, profits increased from approximately $300 million to nearly $4 billion." "I'm looking forward to meeting the people who are Conseco and working with them on the challenge of bringing the company back to its previous strengths," Wendt said. "At Conseco's base are several strong, valuable financial services businesses. Our job is to nourish nour·ish v. To provide with food or other substances necessary for sustaining life and growth. those businesses while resolving the capital structure issues which now exist in the company." Wendt came to GE in 1975 and was named CEO of GE Capital, since recognized as one of the most successful financial services companies in the world, in 1984. After leaving GE Capital in 1998, he has served in a number of charitable positions, including major gifts chairman for the Tristate United Way and on the board of governors of the Boys and Girls Clubs of America Boys and Girls Clubs of America, federation of more than 1,006 organizations established (1906) in Boston as the Federated Boys' Clubs to help young people, especially those who are disadvantaged. . A native of Rio, Wisc., he is a graduate of the University of Wisconsin and the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. . Headquartered in Carmel, Ind., Conseco is one of middle America's leading sources for insurance, investment and lending products. Through its subsidiaries and a nationwide network of distributors, Conseco helps 13 million customers step up to a better, more secure future. World Wide Web http://www.conseco.com Investor Hotline 800.4.CONSECO Fax-on-Demand 800.344.6452 |
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