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.”


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