Harbinger Group Inc.
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HRG GROUP, INC. filed this Form 8-K on 03/22/2017
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NEW YORK, March 22, 2017 – HRG Group, Inc. (the “Company” or “HRG”; NYSE: HRG) today announced that Omar Asali, President and Chief Executive Officer, has informed the Company that he will resign from the Company and its subsidiaries and their respective Board of Directors effective as of April 14, 2017.  Joseph S. Steinberg, the Company’s Chairman, will assume the additional position of Chief Executive Officer of the Company upon Mr. Asali’s departure.
On November 17, 2016, HRG disclosed that Mr. Asali planned to leave HRG in the second half of fiscal 2017 to establish a private investment vehicle to make long-term investments in private and public companies.
Mr. Asali said: “I want to thank the HRG Board and employees for all of their contributions to the success of the Company.  I will be moving on to my next chapter knowing that HRG is in capable hands.  HRG and its subsidiaries are great businesses with strong performance records. I am confident that the strategic review process at HRG and sale process at Fidelity & Guaranty Life will maximize value for all shareholders.”
The HRG Board said: “Omar has played a critical role in creating value for the HRG shareholders. We thank him for all his efforts and wish him well in his future endeavors.”
About HRG Group, Inc.
HRG Group, Inc. is a holding company that conducts its operations through its operating subsidiaries. As of December 31, 2016, the Company's principal operating subsidiaries were: Spectrum Brands, a global branded consumer products company; Fidelity & Guaranty Life, a life insurance and annuity products company; and Front Street, a long-term reinsurance company. HRG is headquartered in New York and traded on the New York Stock Exchange under the symbol HRG. For more information on HRG, visit: www.HRGgroup.com.
Forward Looking Statements
“Safe Harbor” Statement Under the Private Securities Litigation Reform Act of 1995: This document contains, and certain oral statements made by our representatives from time to time may contain, forward-looking statements, including those statements regarding the departure of the Company’s current CEO, the Company’s CEO succession plan, the Company’s strategic review process and the merger of Anbang Insurance Group and Fidelity & Guaranty Life (“FGL”), the FGL ongoing sale process and any expected or anticipated benefits from the foregoing matters.  As previously disclosed, strategic alternatives for the Company may include, but are not limited to, a merger, sale or other business combination involving the Company and/or its assets. HRG has not set a definitive schedule to complete its review of strategic
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