Teladoc Health On Friday, the company announced the sudden resignation of CEO Jason Gorevich, saying he would be stepping down from his role as the company’s head immediately. release.
The company’s board of directors has appointed Chief Financial Officer Mara Murthy to replace Mr. Gorevich on an interim basis and hired an executive search firm to identify a permanent successor.
Teladoc stock closed Friday up more than 1%, but is down about 33% since the beginning of the year. The stock has also fallen about 95% from its February 2021 high of $294.54 to about $14 as of Friday, and hasn’t traded at this level in about eight years.
Teladoc Stock Price Chart
“We thank Jason for his many accomplishments and contributions during his 15 years leading Teladoc Health, and we wish him every success in his future endeavors.” David, Chairman of the Teladoc Board of Directors・Snow Jr. said in a release.
Teladoc is a virtual healthcare company that offers telehealth appointments with doctors, therapists, and specialists.
Mr. Gorevich joined the company as CEO in 2009 and steered Teladoc through the COVID-19 pandemic, which forced most healthcare providers to adapt to virtual formats.
“The impact we’ve had on the health care system and the many accomplishments that have driven innovation and transformed virtual health care from an unfulfilled promise to a valuable reality for our 90 million members,” Gorevic told CNBC. I’m proud of that,” he said in a statement.
Mr. Murthy has led Teladoc’s financial organization since 2019. Previously, he held executive positions at the following companies: american express and pepsico. In a letter to his employees Friday, Murthy said he is focused on keeping Teladoc’s promises to customers and members and ensuring that “the company continues to operate effectively.” .
Teladoc’s Board of Directors reaffirmed that the company is on track to meet its first quarter and full-year guidance. No other details were given regarding the reason for Gorevic’s departure.
The company had no further comment.