June 12, 2018

Citing inappropriate behavior, Harvard Pilgrim CEO resigns suddenly

HBJ Photo | Matt Pilon
HBJ Photo | Matt Pilon
Harvard Pilgrim President and CEO Eric Schultz resigned suddenly on Tuesday.

Harvard Pilgrim President and CEO Eric Schultz resigned suddenly on Tuesday, citing "behavior inconsistent with my personal core values and the company's core values and code of conduct."

The not-for-profit insurer, based in Massachusetts and with operations in downtown Hartford, did not disclose details of what Schultz did.

The company declined to comment beyond prepared remarks in a news release.

Harvard Pilgrim said its board had accepted Schultz's resignation, which is effective immediately.

"Regrettably, I recently exhibited behavior that was inconsistent with my personal core
values and the company's core values and code of conduct," Schultz wrote in a letter to the board of directors, which was released to media. "During the past eight years as your leader, I was committed to fostering a workplace culture that was inclusive, welcoming and rooted in integrity and respect. I made mistakes, and I'm truly sorry."

Schultz had been Harvard Pilgrim's CEO since 2010 and also led its foundation. Four years ago, he led the company into the Connecticut market, where it had more than 32,000 customers as of 2017.

In his letter to the board, Schultz cited the Connecticut expansion as an example of a proud accomplishment.

In an April interview with the Hartford Business Journal at Harvard Pilgrim's CityPlace II offices, Schultz expressed confidence in the future of regional insurers such as his, amid ongoing mega mergers in the industry.

Harvard Pilgrim on Tuesday named Michael Carson as president. Most recently, he held the title of chief business growth officer.

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