COLUMBUS, Ohio — Maryhaven, Inc. on Wednesday announced the board of directors accepted the resignation of CEO Shawn Holt.
Holt’s resignation, which went into effect Dec. 31, was mutual between him and the board, according to a release. It stems from an investigation into the company’s policy on executive compensation, bonuses and benefits.
The release states that due to business policy and an employee agreement, board authorization was required to pay Holt any compensation, benefits and bonuses outside of the agreement.
While the investigation revealed Holt received those benefits, the CEO believed he was entitled to the same benefits and policies that applied to the rest of the executives.
The board disagreed, believing that his compensation and benefits were exclusively set out in his employment agreement, according to the release.
In a statement, Board Chair Kevin Brady said that changes needed to be made and the resignation was mutual after careful deliberation and discussions.
“The change in administration will have no negative impact on our commitment to Maryhaven’s mission of treating those suffering with illness due to addiction,” Brady said.
Holt also released a statement, saying he had the privilege of leading and helping impact the community in a meaningful community.
Holt became CEO in July 2016, according to the release. During his tenure, he created the Maryhaven Addiction Stabilization Center and centralized addiction treatment services in Franklin County.
Adam Rowan, who has been with Maryhaven since 2017, was appointed interim CEO by the board. The organization starts the search process for the position.
