DOW JONES NEWSWIRES
CNO Financial Group Inc. (CNO) said Chief Executive C. James
Prieur has decided to resign from that position at the end of
September and will be succeeded by Chief Financial Officer Ed
Bonach.
Prieur, 60 years old, joined the provider of supplemental health
and life insurance in 2006 from Canadian-based Sun Life Financial
Inc. (SLF, SLF.T), where he served as president and chief operating
officer after serving in a number of managerial positions since
joining that firm in 1979.
CNO Financial said its board elected 57-year-old Bonach to
succeed Prieur, saying Bonach would continue his responsibilities
as chief financial officer until a successor is named.
CNO said it also appointed Scott Perry, president of the
company's Bankers Life and Casualty subsidiary, to the newly
created position of chief operating officer.
The changes come as CNO, formerly known as Conseco, has fared
better in recent quarters as it recovers from large losses in the
financial crisis. The company sells health, life and other
insurance products primarily to lower- and middle-income
clients.
Shares fell 1.1% to $7.93 after hours.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com