Teladoc Health today announced the sudden departure of its Chief Executive Officer (CEO), Jason Gorevic .
By decision of the board of directors, the company's CFO, Mala Murthy, will temporarily replace Gorevic, while an firm searches for the next permanent successor.
Teladoc shares were mostly flat in premarket trading on Friday, but are down about 34% this year. The stock is also down about 95% from its high of $294.54 in February 2021.
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“We thank Jason for his many achievements and contributions during his 15 years leading Teladoc Health. We wish him well in his future endeavors,” said David Snow, Jr., chairman of Teladoc’s board of directors. The reason for departure was not disclosed.
Teladoc is a virtual health-care company that enables teleconferencing with doctors, therapists, and specialists. Jason Gorevic has been CEO of Teladoc since 2009.
The interim replacement, Mala Murthy, has led the company's finance organization since 2019. In the past, she was an executive at American Express and PepsiCo.
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Speaking about her new position, Murthy promised employees that she would make sure to fulfill the company to its customers and members and ensure that "the company continues to operate effectively."
Teladoc's board of directors confirmed that the company is on track to meet its goals for the quarter and the full year.
However, such changes usually cause some disruption for companies. The departure of CEO Jason Gorevic from Teladoc could create uncertainty. Investors, customers and employees may be concerned about the stability and future direction of Teladoc Health.
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The leadership change could lead to changes in strategy and operations. Depending on Gorevic's successor, the company could shift its focus to different aspects of healthcare.
Finally, Jason Gorevic's departure could impact the corporate culture and climate at Teladoc. New leaders could bring new ideas and approaches that could change the way the company operates.
Source: www.theverge.com
