R. Glenn Hilliard, Conseco Inc.'s chairman, has relinquished the executive responsibilities he held for one year.
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In August 2004 the Carmel, Ind., insurer, which had emerged from Chapter 11 bankruptcy protection in 2003, elected him "executive chairman" to help its new chief executive officer, Bill Kirsch. Mr. Hilliard has now gone back to being a nonexecutive chairman, it said Friday.
In the past year, Conseco has increased profitability and has been upgraded to a "positive outlook" rating by A.M. Best, Moody's Investors Service, and Standard & Poor's, Mr. Hilliard said. It has also accelerated expense reductions, strengthened its balance sheet and capital position, and made several new hires, he said.
