LPL Financial, a La Jolla-based investment and wealth management services firm, fired its CEO Dan Arnold on Tuesday for making statements to employees that violated the company’s code of conduct.
“LPL’s Code of Conduct requires every employee, no matter their title, to foster a supportive and professional workplace and show respect to each other, our stakeholders and the broader community,” said James Putnam, chair of the board of directors in the announcement. “Mr. Arnold failed to meet these obligations.”
He will not receive severance benefits and forfeits his equity awards because he was terminated with cause. Arnold also resigned from LPL’s board on Tuesday.
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