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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Money Maker (MM) who wrote (7438)	8/24/1998 10:53:00 AM
From: Fitz	Respond to of 25711

Monday August 24, 9:46 am Eastern Time Penncorp Financial says Maib new CEO, Pres NEW YORK, Aug 24 (Reuters) - Insurance holding company PennCorp Financial Group Inc. said Monday it had named Keith Maib its president and chief executive, replacing David Stone. Stone, who was president and chief executive and chairman, will continue as a director and employee of PennCorp and assist in the sale of its non-core assets, such as its career sales unit, PennCorp said in a statement. The company is currently reviewing bids it received for the unit, comprised primarily of the Pennyslvannia Life Insurance Co. and the Union Bankers Insurance Co. In addition to Maib, the company said it had appointed David Smith, a director of the company since 1994, as non-executive chairman of the board. Smith will also serve as chairman of the board's audit committee and become a member of the board's executive committee. Smith is the former vice chairman of the tax division of KPMG Peat Marwick. PennCorp also said that, in light of ongoing corporate developments, including inquiries related to possible transactions involving the company or certain of its subsidiaries, it has imposed a corporate ''blackout'' period. During this period, directors and executive officers are forbidden from buying and selling their PennCorp stock.