Shareholders Approve Presidential Life Slate

The founder and former chief executive officer of Presidential Life Corp. has failed in a second attempt to secure shareholder approval to install a hand-picked slate of directors and to reinstate himself as the company’s CEO.

Presidential Life (Nasdaq: PLFE), Nyack, N.Y.), says preliminary information from a proxy solicitor indicates that the holders of a majority of outstanding shares of Presidential Life common stock voted in favor of all 8 director-nominees of the Presidential Life board today at the company’s annual stockholders’ meeting.

Herbert Kurz had filed definitive proxy materials to replace all 8 directors. He attended the meeting today but did not put forth his nominees, Presidential Life says.