Herbalife Skeptic Fired

Jul 30 2014 | 7:48am ET

William Ackman’s presentation on nutritional supplements company Herbalife didn’t impress many people, but one of its fans is now out of a job.

Hartford Financial Services Group’s William Kelly was among the very few offering cover to Ackman, telling The Wall Street Journal that the Hartford had been wary of offering Herbalife a directors-and-officers policy, saying, “I’ve never gotten comfortable with the business model.”

The comment has now cost Kelly his job: He told Bloomberg News that he had been fired last week, but did not elaborate. A Hartford spokeswoman said that the firm “takes very seriously its obligations to protect The Hartford’s business information including that related to its customers and potential customers.”


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of