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UPDATE 1-LHC Group financial chief resigns; shares fall

Wed Aug 15, 2007 11:17am EDT

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(Adds details, analysts' comments, stock movement)

BANGALORE, Aug 15 (Reuters) - LHC Group Inc. (LHCG.O), a provider of health-care services in rural markets, said on Wednesday that its chief financial officer, Barry Stewart, resigned for personal reasons.

Shares of the company were down more than 10 percent at $22.04 in morning trade on the Nasdaq. They touched a 52-week low of $20.78 earlier in the day.

The resignation was unexpected and that is pulling the stock down, CIBC analyst Michael Wiederhorn said by phone.

Wiederhorn said Stewart is relocating his family to Houston to be more involved with a company, which he assumes is Flotek Industries Inc. FTK.A. Stewart has been a director of that company since 2001.

Stewart is the second financial chief LHC Group lost in two years. He was made the CFO in June last year after his predecessor Barr Brown left the position.

The company named Peter Roman, vice president and corporate controller, its interim CFO.

Stewart will provide consulting services to the company for two years, it added. (Reporting by Supantha Mukherjee, Esha Dey in Bangalore)



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