- Push-out Score determined
- After less than a year and a half in the position
- Praise for Mayhew
- Terren Peizer taking over
(exechange) — Henderson, Nevada, June 28, 2022 — Jon Mayhew, chief executive of Ontrak, leaves. As announced by Ontrak Inc. in a news release and in a regulatory filing published on Tuesday, June 28, 2022, Jonathan E. (Jon) Mayhew leaves his post as chief executive officer at the healthcare company, after less than a year and a half in the role, effective August 12, 2022.
Jon Mayhew’s duties as CEO will be taken over by Terren S. Peizer, currently Founder and Executive Chairman at Ontrak Inc.
Jon Mayhew’s move coincides with a management shake-up also involving the positions of Chief Financial Officer; Chief Accounting Officer; and Chief Customer Officer.
“Family health reasons”
The management change is explained as follows. Ontrak said: “Mr. Mayhew cited family health reasons for his departure. He intends to be available to support the Company through the end of October 2022.”
Precise information regarding Jon Mayhew’s future plans was not immediately available.
Ontrak said: “Jonathan Mayhew will step down as Chief Executive Officer (CEO) effective August 12, 2022.”
Ontrak further said: “On June 24, 2022, Chief Executive Officer Jonathan Mayhew gave notice of his resignation. His resignation will be effective August 12, 2022.”
Share price decline since June 2021
The announcement follows a decline in Ontrak Inc.’s share price of 96% since June 2021.
In the position of CEO since 2021
Jon Mayhew became CEO of the Company in 2021.
Mayhew was appointed to serve as Chief Executive Officer on April 12, 2021.
Prior to his appointment as CEO, Mayhew most recently served as Executive Vice President and Chief Transformation Officer of CVS Health, where he had enterprise-wide oversight of the entire portfolio of CVS business transformation initiatives and played a key role in shaping CVS Health’s integrated value story.
Previously, he was President of U.S. Markets for the Aetna Health Care Business, where he was responsible for $52B in revenue and $4.3B in operating income for all commercial and Medicare lines of business.
Prior to joining Aetna, Mayhew was a founding principal, CEO and President of Freedom Disability. Mayhew received his undergraduate degree from Providence College.
At the time of Jon Mayhew’s appointment as Chief Executive Officer at Ontrak, Terren Peizer, then Chairman and CEO, had stated: “I have long looked forward to handing over the CEO reins to an executive of Jonathan’s stature, and the Ontrak Board of Directors and I are confident that he is the right leader to build upon our growth trajectory and scale the business. Jonathan is a seasoned leader with deep experience building and leading multi-billion-dollar businesses, strong relationships with C-Suite executives in the healthcare industry, and a proven track record of delivering record growth. I very much look forward to supporting Jonathan. In my new role as Executive Chairman, I will continue to focus on our capital formation and shareholder value-added transactions, drive our mission-driven culture, and collaborate with Jonathan on our long-term growth strategy.”
At the time of Jon Mayhew’s appointment as Chief Executive Officer at Ontrak, Jonathan Mayhew had stated: “Ontrak is a high growth, high potential company with a very exciting future. The company has industry-leading engagement and member satisfaction scores, third-party validated savings and ROI, and lasting clinical outcomes with the most challenging care-avoidant, high acuity members that represent 44% of the health industry’s medical expense. This is an irresistible opportunity for me to lead a company with an exceptionally talented team and to develop an integrated intervention platform for behavioral health powered by the market’s best engagement engine.”
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jon Mayhew’s move on a scale of 0 to 10.
exechange reached out to Ontrak and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 27.2022 ($).