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Conseco Names Gary Wendt as
Chairman and CEO
06/29/00 - David V. Harkins, interim chairman and chief executive
officer of Conseco, Inc. (NYSE:CNC), today announced that Gary C.
Wendt has been named chairman and CEO 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 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 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. A native of Rio, Wisc.,
he is a graduate of the University of Wisconsin and the Harvard
Business School.
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.
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World Wide Web
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http://www.conseco.com
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Investor Hotline
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800.4.CONSECO
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Fax-on-demand
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800.344.6452
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Contact:
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Conseco, Inc.
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(Media) Jim Rosensteele, 317/817-4418
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(Investors) Tammy Hill, 317/817-2893
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