"Calibrate's founder and chief executive, Isabelle Kenyon, is stepping down as CEO and will no longer oversee day-to-day operations, she confirmed in a Slack message sent to employees Monday afternoon that was seen by Fortune, according to the report. In the note, she stated she would be staying with the company as "founder." Calibrate CFO Dave Fielding will also step down, according to someone familiar with the matter. Potential replacements for both those roles are being interviewed, the person says."
"Calibrate executives Scott Honken and Ed Cudahy have been promoted to oversee day-to-day operations and will report directly to the board, according to Kenyon's Slack message. It's unclear whether the plans are final, nor when the company plans to officially implement them. When reached by Fortune, Calibrate CFO Dave Fielding said he was still with the company, declining to comment further."
"Redesign Health, the startup studio that initially launched Calibrate in 2019 and that sent the letter to its investors seen by Fortune, will play an active role in facilitating the restructuring, according to the letter. So will Madryn Asset Management, the alternative asset management firm that lent Calibrate the majority of its funding this year. "We are still very confident in the business's trajectory, especially with the financial support Madryn is providing in order to put the company on a path to profitability," a Redesign Health spokeswoman said in a statement."
""We are still very confident in the business's trajectory, especially with the financial support Madryn is providing in order to put the company on a path to profitability," a Redesign Health spokeswoman said in a statement, noting that Redesign will provide "day-to-day support for Calibrate's operational, financial, and planning efforts." Calibrate launched in 2019 to help patients achieve weight loss. The company prescribes patients GLP-1 medicatio"
Isabelle Kenyon is stepping down as CEO and will no longer oversee day-to-day operations, while remaining with the company as founder. Dave Fielding is also stepping down as CFO, and potential replacements are being interviewed. Scott Honken and Ed Cudahy have been promoted to oversee day-to-day operations and will report directly to the board. The timing and whether the plans are final are unclear. Redesign Health, the startup studio that launched Calibrate in 2019, will facilitate the restructuring and provide day-to-day support for operational, financial, and planning efforts. Madryn Asset Management, which provided most of Calibrate’s funding this year, is also involved, with continued confidence tied to support toward profitability.
#management-restructuring #executive-leadership #weight-loss-healthcare #glp-1-therapy #investor-backed-startups
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