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Life Health > Life Insurance

Proposed Kurz Slate Includes Donna Brazile

By Warren S. Hersch

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Herbert Kurz says one of the directors he wants to put on the board of Presidential Life Corp. (Nasdaq:PLFE) is political strategist Donna Brazile.

Kurz is the founder and former chief executive officer of Presidential Life, Nyack, N.Y.

Presidential Life issued a call Tuesday for shareholders to reject new efforts by Kurz to return as CEO and replace the company’s board members with directors of his choosing.

The U.S. Securities and Exchange Commission has now posted a proxy statement Kurz has filed concerning those efforts on its website.

Kurz says he will seek election of 8 director nominees Aug. 18, during the company’s annual meeting.

The best known of the director nominees is Brazile, who directed Al Gore’s presidential campaign in 2000 and has appeared frequently on television discussion panels.

Kurz also is nominating Bill Flynn, Jack Mannion, Don Shaffer, Dan Theriault, Cliff Wood and Doug Sosnik.

Flynn and Mannion each served three terms as chairman of the Life Insurance Council of New York, Albany, N.Y., Kurz says.

“Stockholders will now have a choice between the status quo and the new direction proposed by my slate, which is committed to enhancing stockholder value by all possible means, including the possible sale of the company,” Kurz says in statement.

Kurz says he will distribute his proxy materials, which will include a gold proxy card within a few days.

The incumbent board is using a white proxy card, Kurz says.

Kurz organized an earlier unsuccessful effort to replace the Presidential Life board and return as the company’s CEO 6 months ago.

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