Emplanet Hit With Management Shakeup

November 11, 2002 (PLANSPONSOR.com) - A management shakeup late Friday at online 401(k) provider Emplanet has left former chief executive officer and co-founder Doug Manchester "pursuing other interests" and two other executives promoted to fill in the management gaps.

Gary Gould, senior vice president of business development, said the decision for Manchester to step down followed his meeting with Emplanet’s Board of Directors. “The board and Doug had a discussion and the decision was that Doug should resign and he’s resigned,” Gould said.

He would not elaborate on the reason for Manchester’s departure. Manchester’s resignation was effective Friday.

Replacing Manchester as CEO will be former chief information officer (CIO) Dan Wright. Stepping in as CIO is Mehul Parikh, formerly Wright’s aide, Gould said.

The Westborough, Massachusetts-based Emplanet was formed in 2000.