- After almost 25 years in the position
- Thanks for Rawlings
- Margi Tooth taking over
- Rawlings will remain as Chair of the Board at Trupanion
- Rawlings said 119 words
(exechange) — Seattle, Washington State, May 2, 2024 — Darryl Rawlings, chief executive of Trupanion, leaves his position. As announced by Trupanion Inc. in a news release and in a regulatory filing published on Thursday, May 2, 2024, Darryl Rawlings leaves his post as chief executive officer at the provider of medical insurance for cats and dogs, after almost 25 years in the role, effective August 1, 2024.
It is the end of an era.
Darryl Rawlings’s duties as CEO will be taken over by Margaret (Margi) Tooth, currently President at Trupanion Inc.
“Culmination of a multi-year, board-led process”
The management change is explained as follows. Trupanion stated: “Tooth’s appointment to CEO marks the culmination of a multi-year, board-led process.”
Rawlings will remain as Chair of the Board at Trupanion
Trupanion stated: “Trupanion’s founder and outgoing CEO Darryl Rawlings will continue to serve in the role of Chair of the Board, in which capacity he will continue to oversee the Company’s board of directors.”
“Resignation”
Trupanion said: “On April 30, 2024, Darryl Rawlings, the Chair of the Board and Chief Executive Officer … of Trupanion, Inc. …, submitted his resignation as CEO, effective August 1, 2024 ….”
“Not due to any disagreement”
Trupanion stated, regarding the change: “The resignation was voluntary, not due to any disagreement with the Company on any matter, and part of a previously announced succession plan.”
Share price decline since May 2021
The announcement follows a decline in Trupanion Inc.’s share price of 71% since May 2021.
In the position of CEO since 2000
Darryl Rawlings became CEO of the Company in 2000.
He is the Company’s founder and has served as the Company’s Chief Executive Officer and as a member of the Company’s Board of Directors since January 2000.
In January 2023, Rawlings became the chairperson of the Company’s Board of Directors.
Rawlings also served as the Company’s President from January 2000 to January 2021.
Previously, Rawlings was a founder of the Canadian Cigar Company.
Rawlings holds a Diploma of Marketing Management from the British Columbia Institute of Technology.
His family includes his wife Caroline, two sons Sam and Bennett, and bulldogs Tristen and Priscilla.
119 words by Darryl Rawlings
In the release announcing his departure as CEO of Trupanion Inc., Darryl Rawlings received thanks.
In the release announcing his departure as CEO, Darryl Rawlings said 119 words.
“It has been my honor and privilege to serve as a resource to her over the past decade”
Darryl Rawlings stated: “There is no one I trust greater than Margi to lead Trupanion as CEO. During Margi’s tenure, Trupanion has experienced significant growth, with revenue increasing from less than $100 million to over $1 billion. Her impact, however, extends well beyond the numbers. In the last 18 months, Margi has assumed oversight of every department at Trupanion and started to overhaul key operational areas to drive improved efficiency and performance. Margi brings exceptional passion, dedication, and knowledge to the role and she embodies the heart and spirit of Trupanion. It has been my honor and privilege to serve as a resource to her over the past decade and I look forward to serving our shareholders as Chair of the Board.”
The above text is an excerpt from the exechange report 19.2024 ($), publication date May 6, 2024.