Presidential Life Rejects Kurz Nominees

In June, the department found that Kurz and the foundation had “engaged in untrustworthy conduct that renders them unsuitable to serve as controlling persons of Presidential Life,” the company says.

After the department issued its findings, Kurz tendered his resignation from the company’s board of directors, the company says.

Kurz’ second attempt to nominate a handpicked slate of directors comes 6 months after he failed to garner sufficient independent support to succeed with a similar campaign, the company says.

“After failing once before to generate the necessary support from independent stockholders or proxy advisory firms, he is once again wasting company resources and diverting management’s focus,” William Trust Jr., the non-executive chairman of Presidential Life, says in a statement.