Envestnet, Inc. (NYSE: ENV), a provider of intelligent systems for wealth management and financial wellness, announced on Friday the sudden passing of its CEO, Jud Bergman. According to Envestnet, Bergman, along with his wife, Mary Miller, were involved in an automobile accident on Thursday.
Following the tragic accident, Envestnet’s Board of Directors implemented the company’s emergency succession plan and has appointed Bill Crager, who is currently President of Envestnet and Chief Executive of Envestnet Wealth Solutions, as Interim CEO. Crager has served as President of Envestnet since 2002. The Board of Directors also appointed Ross Chapin, the Lead Independent Director of Envestnet’s Board of Directors as Interim Chairman of Envestnet’s Board of Directors.
Speaking about Bergman’s passing, Chapin, stated:
“We have all experienced a great loss at Envestnet.While it is difficult to imagine anyone replacing Jud’s vision and presence, we have the utmost confidence in the ability of his colleague, co-founder and dear friend Bill Crager, to carry on in Jud’s place. Bill and Jud worked closely over the last 20 years and have built a resilient team that will see us through these dark days. Jud was a giant as a businessman and human being. We will miss him immensely.”
The company added:
“On behalf of our Board of Directors, management team and employees, we extend our deepest sympathies to Jud and Mary’s family. As Envestnet’s founder, Jud was a remarkable leader whose vision, brilliance and drive built the foundation for Envestnet’s success.”