Phil Falcone Out as HC2 CEO

The company’s new board ousted the controversial former hedge fund manager.

Phil Falcone (Christopher Goodney/Bloomberg)

Phil Falcone

(Christopher Goodney/Bloomberg)

Phil Falcone, the former billionaire hedge fund manager who had been running HC2 Holdings after being ousted from the hedge fund world by the Securities and Exchange Commission years ago, has lost his job.

The newly-constituted board of HC2 said Wednesday that it has appointed Wayne Barr Jr.

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