A Midwestern insurer is replacing a top executive.
Conseco Inc., Carmel, Ind., says William Kirsch, the company’s president, will step down from his posts as president, chief executive and director May 23.
James Hohmann, Conseco’s executive vice president and chief administrative officer, will become interim chief executive, and Conseco will launch a search, “both internally and externally,” for a permanent chief executive, according to Conseco Chairman Glenn Hilliard.
“Kirsch has agreed to assist Conseco with transitional issues through Aug. 31,” Conseco says.
Conseco ran into financial trouble several years ago as a result of problems with acquisitions of consumer finance companies. The company emerged from bankruptcy court protection in September 2003. Since then, the company has strengthened the finances of its insurance company units. Fitch Ratings recently increased the rating on Conseco’s senior unsecured debt 1 notch, to BBB.