- Push-out Score determined
- After about four and a half years in the position
- Praise and thanks for Tramuto
- Bob Greczyn taking over in the interim
- Search for a successor
- Tramuto said 74 words
(exechange) — Nashville, Tennessee, February 19, 2020 — Donato Tramuto, chief executive of Tivity, leaves. As announced by Tivity Health Inc. in a news release and in a regulatory filing published on Wednesday, February 19, 2020, Donato J. Tramuto leaves his post as chief executive officer at the health care company after about four and a half years in the role, effective immediately.
Tivity will undertake a search for a successor.
Donato Tramuto’s duties as CEO will be taken over in the interim by Robert J. (Bob) Greczyn, currently Principal Manager of Capital Food Group, LLC and RJG Restaurant Group LLC, as Interim Chief Executive Officer.
Already a director
Greczyn is already a director of Tivity. Generally speaking, most director-turned-CEO appointments occur following a sudden resignation of the outgoing CEO and signal a lack of preparedness on the company’s part to groom internal talent. On the other hand, directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Greczyn understands the expectations and dynamics of the board and has knowledge of Tivity’s organization, risk-management practices and strategy.
Donato Tramuto’s move is part of a management shake-up also involving the position of President of the Nutrition Business Unit.
A reason for Donato Tramuto’s departure from the CEO post was not explicitly provided. Kevin Wills, Chairman of the Board, said: “The search for our new CEO is underway and we are very optimistic that we will find the right individual, a person with fresh perspectives who will drive profitable growth across the business.”
Precise information regarding Donato Tramuto’s future plans was not immediately available.
Tivity said: “Donato J. Tramuto will depart as Chief Executive Officer (“CEO”) and resign from the Board, effective immediately.”
“Not related to any disagreement”
“Mr. Tramuto’s decision to step down from the Board is not related to any disagreement between Mr. Tramuto and the Company with respect to the Company’s operations, policies or practices,” Tivity said.
Share price decline
The announcement follows a decline in Tivity Health Inc.’s share price of 37% since January 2018.
Chaired by Kevin G. Wills
Tivity Health Inc. is chaired by Kevin G. Wills. He has been Chairman of the Board since 2015 and Board Member since 2012.
In the position of CEO since 2015
Donato Tramuto became CEO of the Company in 2015.
Tramuto has served as Chief Executive Officer of the Company since November 2015.
He has served on the Board since May 2013 and was Chairman of the Board from June 2014 until becoming Chief Executive Officer in November 2015.
From 2008 until November 2015, Tramuto served as Chief Executive Officer and Chairman of Aptus, formerly known as PIH, which was sold in 2013 to Merck Global Health Innovation Fund.
Prior to founding PIH, he served as President of the Physicians Interactive Division of Allscripts from 2006 to 2008.
From 2004 to 2006, Tramuto was Chief Executive Officer of i3 Pharmaceuticals, LLC, a global pharmaceutical services company that, prior to its sale to inVentiv Health, Inc. in 2011, was part of Ingenix, Inc. (a subsidiary of UnitedHealth Group Incorporated).
Prior to joining Ingenix, Tramuto was one of the founders of Protocare, Inc. (“Protocare”), a large provider of drug development services, where he served as Chief Executive and President of the Protocare Sciences Division and Corporate Officer of Protocare from 1998 to 2003.
Prior to co-founding Protocare, Tramuto served as General Manager/Executive Vice President of the Home Healthcare Business Unit and Corporate Vice President of Disease Management Marketing at Caremark.
Tramuto currently serves on the board of directors of Sharecare, Inc., a private health and wellness company, and GoCheckKids, a private digital health solutions company.
Tramuto also serves on executive leadership boards including service on the Boston University School of Public Health Dean’s Advisory Board and as a Board Trustee at the Robert F. Kennedy Center for Justice and Human Rights Europe Board.
Tramuto is the founder of Health eVillages, where he serves on the board, and a former member of the State of Maine Economic Growth Council, an appointment by former Maine Governor John Baldacci.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Tivity and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 8.2020 ($).