Teladoc Health, Inc.
Experienced Healthcare Leader Joins Global Virtual Care Company
Charles “Chuck” DiVita III
CEO, Teladoc Health
PURCHASE, N.Y., June 10, 2024 (GLOBE NEWSWIRE) — Teladoc Health, Inc. (NYSE: TDOC), a global leader in holistic virtual care, today announced that its Board of Directors has appointed Charles “Chuck” DiVita III as Chief Executive Officer. In addition to his role as CEO, Mr. DiVita has also joined the Teladoc Health Board of Directors, effective immediately.
DiVita joins Teladoc Health from GuideWell, a leading health solutions organization that includes Florida Blue, the market-leading health plan for the state of Florida, where he served as Executive Vice President of Commercial Markets. In this role, he was responsible for $23 billion in revenue and was responsible for Florida Blue's individual consumer, insured group and large/national account self-funded business, and oversaw a variety of support functions. He has a proven track record of driving growth, innovation and new models for a wide range of stakeholders in healthcare. Prior to his role as Executive Vice President of Commercial Markets, DiVita also served as GuideWell's Chief Financial Officer for several years.
“Chuck is a perfect example of the experience, respect and ability of an executive in today's healthcare industry, 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, visionary leader who can deliver significant growth, value for our customers, and great relationships with all our partners and colleagues. His combination of experience at both large healthcare companies and public companies will be a great asset to Teladoc Health. We also sincerely thank Mara Murthy for her contributions as Acting CEO.”
“I am honored and grateful to the board for this opportunity,” said DiVita. “Teladoc Health has been successful in securing a leadership position in the market, and I look forward to working closely with my new colleagues to build on this foundation, advance key strategic priorities and ensure the company is positioned for long-term, sustainable success that will create new opportunities to positively impact healthcare and the health and well-being of the people we serve.”
Prior to joining GuideWell, Mr. DiVita served as Chief Financial Officer for FPIC Insurance Group, a publicly traded P&C insurance company focused primarily in the medical professional liability space. Mr. DiVita has served on the boards of directors of Prime Therapeutics, Availity and Vim. Mr. DiVita is also committed to community service, having served on the boards of directors for the Ronald McDonald House of Jacksonville and Teach for America, and 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).
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About Teladoc Health
Teladoc Health is transforming the healthcare experience to help everyone, everywhere live their healthiest life. As the global leader in whole-person virtual care, Teladoc Health uses unique health signals and personalized interactions to drive better health outcomes at every step of an individual's health journey and across the full continuum of care. Teladoc Health leverages more than 20 years of expertise and data-driven insights to meet the growing virtual care needs of consumers and healthcare professionals. To learn more, visit www.teladochealth.com.
Source: Teladoc Health, Inc. – General
NYSE Rule 303A.08 Notice of Incentive Bonuses
Effective June 10, 2024, in connection with the commencement of his employment as Chief Executive Officer, Mr. DiVita was granted a grant of restricted stock units covering 469,924 Teladoc Health common shares with a par value of $0.001 per share (the “Common Shares”) and a grant of performance stock units covering a target of 939,849 Common Shares. The restricted stock units vest for one-third of the underlying shares on the first anniversary of the grant date, and the remainder vest quarterly over two years thereafter, based on his continued service to Teladoc Health. The performance stock units provide for a target number of Common Shares to be earned based on (i) Teladoc Health's 2025 Adjusted EBITDA (the “EBITDA PSUs”) and (ii) Teladoc Health's actual annual revenue compound growth rate from 2025 to 2027 (the “Revenue CAGR PSUs”). Seven-twelfths of the EBITDA PSUs earned will vest on March 10, 2026, and the remaining five-twelfths will vest in five approximately equal quarterly installments over the following 15 months. The revenue CAGR PSUs earned will vest on March 1, 2028. The award was approved by the Compensation Committee of Teladoc Health's board of directors and granted under the Teladoc Health, Inc. 2023 Employment Incentive Compensation Plan as an employment induction 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
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