01.08.24

Envestnet CEO Crager To Step Down

William Crager, chief executive of asset management software and service provider Envestnet, is stepping down. Crager, who co-founded the company in 1999, will resign on March 31 and move into a senior advisor role, according to an announcement. Envestnet Chair James L. Fox will fill in as interim CEO on April 1 as the company searches for a long-term replacement. Crager will also step down from Envestnet’s board following its annual meeting in April. The announcement follows a series of changes at the top of the company. Envestnet in March named three board members to settle a challenge from activist investor Impactive Capital based on claims of underperformance, and in September, it hired a new chief financial officer from BlackRock.

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