Presidential Life's former CEO wants to replace board with his slate

By Lisa Kerner

Charlotte, N.C., Oct. 5 - Herbert Kurz, former president and chief executive officer of Presidential Life Corp., intends to begin a consent solicitation to remove all of the company's current directors except himself and replace them with his slate of proposed nominees, according to a schedule 13D/A filed on Monday with the Securities and Exchange Commission.

Kurz beneficially owns 2,545,261 shares, or 8.6%, of the Nyack, N.Y., life insurance company's common stock.

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