An executive managing enterprise growth at Teladoc Health will leave the telehealth vendor due to a change in the company’s reporting structure.
Laizer Kornwasser, formerly president of enterprise growth and global markets, was terminated from his position without cause on July 1, according to a securities filing. However, he’ll remain employed as an advisor to Teladoc’s chief executive until Aug. 2.
The move comes shortly after Teladoc appointed a new CEO. Chuck Divita, a former insurance executive, took the reins at the company last month after Jason Gorevic, the former CEO who led the company since 2009, stepped down in April.
Kornwasser joined the virtual care firm in October 2022, charged with growing revenue and profits across Teladoc’s product lines.
His position will now be eliminated, a Teladoc spokesperson told Healthcare Dive. Presidents of each line of business will now report directly to Divita.
“We continue to focus on opportunities to streamline the organization and enhance focus on the markets we serve,” the spokesperson said in a statement.
The executive change-up comes as the company works to boost its bottom line and improve its stock performance.
Teladoc posted mixed results in the first quarter this year. The vendor beat Wall Street expectations with revenue of $646 million and a net loss of $82 million, but performance at Teladoc’s direct-to-consumer mental health unit BetterHelp declined.
The segment, once a fast-growing business, reported revenue that declined 4% year over year, while the number of paying users dropped 11%.
