Namely Abruptly Ousts CEO

Namely Abruptly Ousts CEO

The founder and CEO of Namely, Matt Straz, has been removed as CEO in an abrupt announcement today. Their Board of Directors has determined that his “actions were inconsistent with that which is expected of Namely leadership”. Forbes is reporting that employees were notified in an all hands meeting Tuesday afternoon. The company issued this press release saying that a new CEO search has already begun. Straz had been a founder of the company that started in 2011. They have raised over $160 million in funding to date. Namely is a company that provides HR solutions, resources and best practices to help clients achieve their workplace goals. The company is steadfast in its goal to model the best workplace practices, including demonstrating commitment to its values by taking decisive action if or when anyone, including its CEO, acts contrary to those values. Board member¬†Elisa Steele¬†will lead the Office of the CEO. Elisa has more than 25 years of leadership experience at several of the