Teladoc Health Names Chuck Divita as CEO
June 10 2024 - 6:45AM
Teladoc Health, Inc. (NYSE: TDOC), the global leader in
whole-person virtual care, today announced that its Board of
Directors has appointed Charles “Chuck” Divita, III, as Chief
Executive Officer, effective immediately. Concurrent with his role
as CEO, Mr. Divita has also joined Teladoc Health’s Board of
Directors as of today.
Mr. Divita joins Teladoc Health from GuideWell, a leading health
solutions organization which includes Florida Blue, the market
leading health plan in Florida, where he served as Executive Vice
President, Commercial Markets. In this capacity, he was responsible
for $23 billion in revenue and had accountability for Florida
Blue’s individual consumer, insured group and large/national
account self-funded businesses, as well as oversight of various
supporting functions. He brings a proven track record of growth,
innovation and advancing new models across a wide range of
stakeholders in healthcare. Prior to his role as EVP, Commercial
Markets, Mr. Divita also served as GuideWell’s Chief Financial
Officer for several years.
“In today’s healthcare landscape, Chuck is the perfect example
of experience, respect, and competence among executives, and we are
pleased to welcome him to Teladoc Health,” said David B. Snow, Jr.
Chairman of the Teladoc Health Board of Directors. “We are
confident we have selected an innovative and visionary leader
capable of delivering growth at scale, value for our clients and
positive relationships with all our partners and colleagues. His
combination of large healthcare company and public company
experience make him a tremendous asset to Teladoc Health. We would
also like to sincerely thank Mala Murthy for her contributions as
acting CEO.”
“I’m honored and grateful to the Board for this opportunity,”
said Divita. “Teladoc Health has been successful at securing a
leading position in the marketplace and I look forward to working
closely with my new colleagues to build upon this foundation,
advance key strategic priorities and ensure the company is
positioned for long-term, sustainable success. This will
provide new opportunities to positively impact healthcare and the
health and wellbeing of the people we serve.”
Prior to joining GuideWell, Mr. Divita was the Chief
Financial Officer of FPIC Insurance Group, a publicly
traded P&C insurer primarily focused on the medical
professional liability sector. Mr. Divita has previously served on
the boards of Prime Therapeutics, Availity, and Vim, among others.
He is also focused on community service and has served
on the boards of Ronald-McDonald House of Jacksonville
and Teach for America, as well as leading the First Coast Heart
Ball campaign. Mr. Divita is a Certified Public Accountant and a
member of the Florida Institute of Certified Public Accountants
(FICPA).
About Teladoc HealthTeladoc Health empowers all
people everywhere to live their healthiest lives by transforming
the healthcare experience. As the world leader in whole-person
virtual care, Teladoc Health uses proprietary health signals and
personalized interactions to drive better health outcomes across
the full continuum of care, at every stage in a person’s health
journey. Teladoc Health leverages more than two decades of
expertise and data-driven insights to meet the growing virtual care
needs of consumers and healthcare professionals. For more
information, please visit www.teladochealth.com.
Source: Teladoc Health, Inc. – General
NYSE Rule 303A.08 Notice of Inducement
Award
Effective June 10, 2024, in connection with commencing
employment as Chief Executive Officer, Mr. Divita was granted an
award of restricted stock units covering 469,924 shares of Teladoc
Health’s common stock, par value $0.001 per share (the “Common
Stock”), and an award of performance stock units covering a target
of 939,849 shares of Common Stock. The restricted stock units vest,
based on continued service to Teladoc Health, as to one-third of
the underlying shares on the first anniversary of the grant date,
with the remainder vesting quarterly over two years thereafter. The
performance stock units provide a target number of shares of Common
Stock that would be earned based on (i) Teladoc Health’s adjusted
EBITDA for 2025 (“EBITDA PSUs”) and (ii) Teladoc Health’s actual
compound annual revenue growth rate during 2025-2027 (“Revenue CAGR
PSUs”). Seven-twelfths of any earned EBITDA PSUs would vest on
March 10, 2026 and the remaining five-twelfths would vest in five
substantially equal quarterly installments over the subsequent 15
months. Any earned Revenue CAGR PSUs would vest on March 1, 2028.
The awards were approved by the Compensation Committee of the Board
of Directors of Teladoc Health and were granted under the Teladoc
Health, Inc. 2023 Employment Inducement Incentive Award Plan as an
employment inducement award pursuant to New York Stock Exchange
Rule 303A.08.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6db1eef1-1dc5-4e08-a199-d1d37b455d94
ContactCarolyn EdwardsPR@teladochealth.com+1
321-795-1952
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