Jason Gourevitch, CEO, Teladoc
Scott Milin | CNBC
Teladoc Health on Friday announced the surprise departure of CEO Jason Gourevitch, who will leave his position as president of the company effective immediately, Teladoc Health said. statement.
The company's board named Mala Murthy, interim chief financial officer, as Gurevic's replacement and hired an executive search firm to identify a permanent successor.
Teladoc shares were mostly flat in premarket trading Friday but are down about 34% since the beginning of the year. The stock has also fallen nearly 95% from a high of $294.54 in February 2021 to about $14 as of Friday, a level at which it has not traded in about eight years.
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Teladoc stock chart
“We thank Jason for his many accomplishments and contributions during his 15 years leading Teladoc Health. We wish him success in his future endeavors,” David Snow Jr., chairman of Teladoc's board of directors, said in the statement.
Teladoc is a virtual healthcare company that offers telehealth appointments with doctors, therapists, and specialists.
Gourevitch joined the company as CEO in 2009, guiding Teladoc through the Covid-19 pandemic that left most healthcare providers scrambling to adapt to a virtual format.
“I am proud of the impact we have had on the healthcare system, and our many accomplishments in fostering innovation and transforming virtual healthcare from an unrealized promise to a valuable reality for our 90 million members,” Gourevitch told CNBC in a statement.
Murthy has led Teladoc's finance organization since 2019. She previously held executive positions at American Express and PepsiCo. Murthy said in a letter to employees on Friday that she is focused on honoring Teladoc's commitments to customers and members and ensuring “the company continues to operate effectively.”
Teladoc's board of directors reaffirmed that the company is on track to meet its guidance for the first quarter and the full year. She did not share any further details about the reason for Gourevitch's departure.
The company did not provide any additional comment.
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