After Allegations Of Improper Insurance Sales Practices, Zenefits CEO Resigns
The head of the digital health startup came under fire after a series of investigations found the company may have not complied with some regulations on insurance sales.
The New York Times:
Zenefits, In A Shake-Up, Appoints New C.E.O., Replacing Parker Conrad
Zenefits, a fast-growing San Francisco start-up that has attempted to shake up the health insurance brokerage industry, said on Monday that Parker Conrad, its co-founder and chief executive, had resigned from the company and from its board of directors. Mr. Conrad was replaced by David Sacks, who joined Zenefits a year ago as its chief operating officer. Mr. Sacks previously had led his own start-up, Yammer, which was acquired by Microsoft in 2012. Mr. Conrad’s recent tenure was rocked by lapses in complying with health insurance regulations in several of Zenefits’ markets. (Manjoo, 2/8)
The San Francisco Business Times:
Scandal Fallout: CEO Parker Conrad Resigns At Zenefits
Parker Conrad, CEO and co-founder of once high-flying Zenefits, has resigned amid a scandal involving allegations that employees sold insurance without holding proper licenses to do so. (Rauber, 2/8)