A statement issued by Connect for Health Colorado said the board of directors planned to name an interim director by next week and plan on hiring a professional firm to search for a new chief executive.
Fontneau has been named president of private exchange business for Cigna, a global health service company.
A spokesman for Cigna said Fontneau would help the company participate in other private exchanges across the country.
Connect for Health Colorado touted Fontneau’s accomplishments as CEO, including the enrollment of 140,000 consumers in private insurance and helping 100,000 people to access tax credits, “all while keeping fees among the lowest in the country.”
However, nearly a quarter of those who signed up are now expected to drop out, and the exchange plans to increase taxes on Coloradans to raise $13 million for operational costs.
Fontneau has also come under scrutiny for raising her salary to $195,000 and awarding herself a hefty $14,000 bonus.
In addition, she balked at state lawmakers’ attempts to order an audit of the exchange, created in the wake of Obamacare, by insisting the agency had already been audited by the federal government.
Those claims were shown to be false, but the state legislature failed to pass a bill requiring the financial review.
The agency’s hiring practices were questioned after manager Christa Ann McClure was forced to resign earlier this year after she was indicted for theft and fraud in another state.
Fontneau said she was proud of the health exchange’s successes and that she was leaving behind a strong team and a financially healthy organization.
“We delivered an entirely new service for Coloradans, and opened on time and under budget,” Fontneau said. “The many people behind Connect for Health Colorado will always have my gratitude for their dedication to our mission. I know I’m leaving behind a strong team and a financially healthy organization that will keep serving our state for years to come.”