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Penn Treaty Promotes Cloutier To CFO

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NU Online News Service, June 3, 2004, 5:35 p.m. EDT – Penn Treaty American Corp., Allentown, Pa., is replacing its chief financial officer.[@@]

Mark Cloutier will be taking over for Cameron Waite, who has been Penn Treaty’s CFO since 1996.

Cloutier, who began working for Penn Treaty as the company’s chief accounting officer in 2002, has a bachelor’s degree in accounting from Temple University. He holds the Certified Public Accountant professional designation.

Waite will become executive vice president of strategic operations. He will focus on regulatory affairs, reinsurance partnerships and efforts to increase profits, Penn Treaty says.