C. Paul Patsis has resigned his dual position as chief executive of Marketing One and United Life and Annuity Insurance Co., effective this Friday.
Mr. Patsis, who had been instrumental in building Marketing One's wholesaling Internet initiative dubbed "CyberLink," will assume leadership of Farmers New World Life Insurance Co., Mercer Island, Wash.
Joel Kaplan, who was previously executive vice president, chief financial officer, and general counsel for Marketing One, has been promoted to succeed Mr. Patsis.
Commenting on Mr. Patsis' departure, a company spokeswoman simply said: "He had a better offer."
Mr. Patsis was unavailable for comment.
Both United Life, Baton Rouge, La., and Portland, Ore.-based Marketing One are owned by PennCorp Financial, an insurance company based in Raleigh, N.C.