Zenefits, the San Francisco-based purveyor of an online human resources platform for insurance, has named veteran technology executive Jay Fulcher as its new CEO and board chairman.
Fulcher is the former president and CEO of Ooyala, president and CEO of Agile Software, executive vice president at Peoplesoft, and vice president at SAP, according to a statement on Zenefits' website.
Fulcher started on Feb. 3. He replaces David Sacks, Zenefits' former COO who stepped up to lead the company after the firm's former CEO, Parker Conrad, resigned under pressure last February.
Zenefits faced accusations that it allowed unlicensed employees to handle insurance transactions and failed to meet insurance agent education requirements. It eventually paid $3.7 million to settle the charges.
In welcoming Fulcher to the team, however, Sacks was optimistic. “The ultimate validation for all of our hard work over the past year is the company attracting an amazingly accomplished CEO to lead it to the next stage of growth and profitability,” Sacks said in the statement.
Sacks announced his departure in November but will stay on as a member of the board of directors.