American Equity names Carlson CEO, shuffles ranks

American Equity Investment Life Holding Co. said Friday that chief financial officer Wendy L. Carlson will take over as chief executive on Jan. 1, and the company announced a series of other moves.

David J. Noble will step down as CEO but remain chairman, the company said.

Noble founded the company in 1995 and had served as chairman, CEO, president and treasurer ever since. He said it was time for other members of the executive team to take over day-to-day operations of the company.

Carlson will be CEO and president. A lawyer and an accountant, she has been CFO and general counsel of the parent and its main operating unit, American Equity Investment Life Insurance Co., since 1999.

Vice chairman John M. Matovina was named CFO and treasurer. He had been a financial consultant to the company.

The company said Kevin R. Wingert would resign as president of the life insurance subsidiary and as a director of the parent on Jan. 1 to form his own business to market the company's products.

American Equity's subsidiaries underwrite fixed-rate and index annuity and insurance policies.

Shares of American Equity rose 10 cents to $4.27 in late-morning trading.