CHANGES AT AMWEST
On June 27, Amwest Insurance Group Inc. announced the resignations of Jeffrey A. Shonka as president and COO, and Phillip E. Huff as executive vice president and CFO of the company. The Calabasas, Calif.-based insurance holding company also stated it has no plans to replace either Shonka or Huff. Amwest Insurance Group Chairman and CEO Charles L. Schultz will assume the position of president of the company. Shonka and Huff, who have been in their respective positions since April 2001, will continue to hold executive positions at Amwest Surety Insurance Company and Far West Insurance Company. The announcement came two days after Amwest Insurance Group Inc. announced that it has applied to the Securities Exchange Commission to remove its shares of common stock, $0.01 par value per share, and its Preferred Stock Purchase Rights from listing on the American Stock Exchange. The company cited its continuing inability to comply with its listing agreement with the Exchange and to file periodic reports with the SEC as the principal reasons for its application to withdraw from trading on the Exchange.
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