A rebel candidate seems to have won a seat on the Conseco Inc. board.
Conseco, Carmel, Ind., has announced preliminary results from the voting at its annual meeting
Shareholders reelected 8 of Conseco’s 9 board nominees, but they also elected a new director, R. Keith Long.
Long, a principal at Otter Creek Partners I L.P., West Palm Beach, Fla., an investment management firm, replaces Phil Roberts, a retired insurance executive.
Long had argued that change was needed because Conseco’s recent financial performance had been worse than the industry norm.
RiskMetrics Group Inc., New York, a company that provides proxy advice to institutional investment firms and mutual funds, had sent a letter to shareholders urging them to elect Long.