The National Association of Insurance Commissioners announcedlate Friday that its CEO, Therese M. (Terri) Vaughan,would be leaving earlier than expected, on Nov. 30 rather than in2013′s first quarter, and that Andrew Beal would become acting CEOuntil a leader is hired.

Beal has been with the NAIC for 13 years and currently serves asthe NAIC's chief operating officer and chief legal officer. Hepreviously served as interim CEO for about six to sevenmonths between Cathy Weaterford's tenure and Vaughan'sassumption of the post. 

Earlier, Vaughan had cited family obligations and the desire torevise a father-daughter textbook—now in its10^th edition—as reasons for leaving the postthat she has held since Feb. 18, 2009.

The NAIC CEO position, which used to have a disclosed salary, nolonger does. 

In January 2008, the NAIC released pay information for topexecutives listed Weatherford's salary at $370,000. The managingdirector of the Securities Valuation Office was the next highestpaid, at a base of $307,878, followed by Beal, at $262,500.

After the August announcement, Vaughan said in a statement, "ithas become clear that an extended phase-out is unnecessary, and theorganization is well-positioned to carry our progress forward. Iwish the officers, members, and staff the best of luck in thefuture, and look forward to continuing to advocate for theprotection of U.S. insurance consumers in my future professionalactivities."

Vaughan said in October she wasn't sure if she would be atthe NAIC Fall 2012 National Meeting Nov. 29 – Dec. 2outside of Washington, D.C., and it was still unclear this week,although some say she will be there to say her goodbyes.

The NAIC has retained executive search firm Egon ZehnderInternational to help find and recruit a CEO. The cost ofrecruiting expenses in the NAIC is over-budget in 2012 anddue to spike in 2013 due to the search for a new CEO, according tothe organization's proposed 2013 budget document.

The majority of the over-budget variance in 2012 is directlyrelated to the CEO search. The 2013 budget assumes additionalexpenses related to the CEO search and an increase in reliance onexternal recruiting services for the attraction of NAIC employeesin 2013, the NAIC stated in its budget.