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Fri September 4, 2009
Arnold Resigning From KACO
By Alan Lytle
Lexington, KY – Arnold is at the center of a spending scandal that has tarnished KACo's image.
In June, the Herald-Leader published a series of stories detailing $600,000 of spending by five KACo executives in two years on travel, meals, strip clubs, escort services, gifts, and other expenses. More than half of the expenses were on Arnold's KACo-issued credit card.
A statement from the Executive Committee today says Deputy Director Denny Nunnelley will take over day-to-day operations of KACo immediately, with significant oversight from the Executive Committee, the recently named Audit and Finance Committee and the full Board of Directors.