Envestnet CEO Bill Crager to step down March 31, 2024; interim CEO James Fox appointed; Q4/FY guidance reaffirmed

ENVESTNET, INC.

CEO Bill Crager will step down effective March 31, 2024, becoming Senior Advisor focusing on clients and partnerships.
Board Chair James Fox appointed interim CEO starting April 1, 2024; search for permanent CEO initiated.
Separation agreement: accrued salary through March 31, 2024, unpaid expenses, and equity awards vesting through March 2025.
Company reaffirms Q4 2023 revenue $309-314M, adj. EBITDA $64.5-68.5M; full year revenue $1,237-1,242M, adj. EBITDA $245-249M.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

William Crager

chief executive officer

ENVESTNET, INC.

Effective: 2024-03-31
Successor: James Fox
Filed: January 8, 2024, 6:59 PM ET

Mr. Crager will step down as chief executive officer of Envestnet and each of its subsidiaries on March 31, 2024.

Appointed (interim)

James Fox

Interim CEO

ENVESTNET, INC.

Effective: 2024-04-01
Filed: January 8, 2024, 6:59 PM ET

Mr. Fox will serve as Interim CEO commencing on April 1, 2024.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENVESTNET, INC. reported fourth quarter 2023 results: revenue $309 - $314 million. Guidance reaffirmed.

Period: fourth quarter 2023
Revenue: $309 - $314 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Envestnet expects its fourth quarter 2023 revenue to be between $309 - $314 million and adjusted EBITDA between $64.5 - $68.5 million.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ENVESTNET, INC. reported full year 2023 results: revenue $1,237-$1,242 million. Guidance reaffirmed.

Period: full year 2023
Revenue: $1,237-$1,242 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

For the full year 2023, Envestnet expects revenue to be between $1,237-$1,242 million and adjusted EBITDA to be between $245-$249 million.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

William Crager departed as chief executive officer at ENVESTNET, INC..

Action: step down
Role: chief executive officer

Exact text from the filing

Mr. Crager will step down as chief executive officer of Envestnet and each of its subsidiaries on March 31, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

James Fox was appointed as Interim CEO at ENVESTNET, INC..

Action: appointed
Role: Interim CEO

Exact text from the filing

Mr. Fox will serve as Interim CEO commencing on April 1, 2024.

View on SEC.gov

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Source: SEC EDGAR

accession 0001213900-24-001732

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