Amwell CFO Mark Hirschhorn Expands Leadership Role
Amwell (NYSE: AMWL) has announced that CFO Mark Hirschhorn will expand his role to include Chief Operating Officer responsibilities, effective January 1, 2025. While maintaining his CFO duties, Hirschhorn will oversee operational and growth strategies, including clinical, sales, and marketing teams. The company aims to streamline its portfolio and pursue profitable growth, targeting cash flow positivity by 2026.
As part of the organizational restructuring, two executives will depart at year-end: Chief Commercial and Growth Officer Kathy Weiler and current COO Kurt Knight. Weiler contributed to cost initiatives and growth organization transformation, while Knight's 14-year tenure included key roles in strategy, M&A, IPO, COVID-19 operations scaling, and managing Amwell Medical Group.
Amwell (NYSE: AMWL) ha annunciato che il CFO Mark Hirschhorn espanderà il suo ruolo per includere le responsabilità di Chief Operating Officer, a partire dal 1 gennaio 2025. Mantenendo le sue funzioni di CFO, Hirschhorn supervisionerà le strategie operative e di crescita, comprese le squadre cliniche, di vendita e marketing. L'azienda mira a semplificare il proprio portafoglio e perseguire una crescita redditizia, puntando a un flusso di cassa positivo entro il 2026.
Come parte della ristrutturazione organizzativa, due dirigenti lasceranno l'azienda alla fine dell'anno: il Chief Commercial and Growth Officer Kathy Weiler e l'attuale COO Kurt Knight. Weiler ha contribuito alle iniziative di contenimento dei costi e alla trasformazione dell'organizzazione della crescita, mentre i 14 anni di Knight hanno incluso ruoli chiave in strategia, fusioni e acquisizioni, IPO, scaling delle operazioni COVID-19 e gestione del gruppo medico Amwell.
Amwell (NYSE: AMWL) ha anunciado que el CFO Mark Hirschhorn expandirá su rol para incluir responsabilidades de Chief Operating Officer, efectivo a partir del 1 de enero de 2025. Manteniendo sus funciones como CFO, Hirschhorn supervisará las estrategias operativas y de crecimiento, incluyendo los equipos clínicos, de ventas y marketing. La compañía tiene como objetivo simplificar su cartera y buscar un crecimiento rentable, apuntando a una positividad de flujo de efectivo para 2026.
Como parte de la reestructuración organizativa, dos ejecutivos dejarán la compañía a fin de año: la Chief Commercial and Growth Officer Kathy Weiler y el actual COO Kurt Knight. Weiler contribuyó a iniciativas de reducción de costos y transformación de la organización de crecimiento, mientras que los 14 años de Knight incluyeron roles clave en estrategia, fusiones y adquisiciones, IPO, escalado de operaciones por COVID-19 y gestión del Amwell Medical Group.
Amwell (NYSE: AMWL)는 CFO Mark Hirschhorn이 2025년 1월 1일부터 Chief Operating Officer의 역할을 추가로 맡게 될 것이라고 발표했습니다. CFO 직무를 유지하면서 Hirschhorn은 임상, 판매 및 마케팅 팀을 포함한 운영 및 성장 전략을 감독할 것입니다. 이 회사는 포트폴리오를 간소화하고 수익성 있는 성장을 추구하며 2026년까지 현금 흐름의 긍정성을 목표로 하고 있습니다.
조직 재편의 일환으로, 두 명의 경영진이 연말에 회사를 떠날 것입니다: Chief Commercial and Growth Officer인 Kathy Weiler와 현재 COO인 Kurt Knight입니다. Weiler는 비용 절감과 성장 조직 변모에 기여했으며, Knight는 14년간 전략, M&A, IPO, COVID-19 운영 확장 및 Amwell Medical Group 관리에서 중요한 역할을 수행했습니다.
Amwell (NYSE: AMWL) a annoncé que le directeur financier Mark Hirschhorn élargira son rôle pour inclure les responsabilités de directeur des opérations, à compter du 1er janvier 2025. Tout en conservant ses fonctions de CFO, Hirschhorn supervisera les stratégies opérationnelles et de croissance, y compris les équipes cliniques, de vente et de marketing. La société vise à rationaliser son portefeuille et à poursuivre une croissance rentable, en ciblant une positivité des flux de trésorerie d'ici 2026.
Dans le cadre de la restructuration organisationnelle, deux dirigeants quitteront l'entreprise à la fin de l'année : la directrice commerciale et de la croissance Kathy Weiler et l'actuel COO Kurt Knight. Weiler a contribué aux initiatives de réduction des coûts et à la transformation de l'organisation de la croissance, tandis que les 14 ans de Knight ont inclus des rôles clés dans la stratégie, les fusions et acquisitions, l'introduction en bourse, l'adaptation des opérations COVID-19 et la gestion du groupe médical Amwell.
Amwell (NYSE: AMWL) hat angekündigt, dass CFO Mark Hirschhorn seine Rolle erweitern wird, um auch die Verantwortung des Chief Operating Officer zu übernehmen, und zwar ab dem 1. Januar 2025. Während er seine CFO-Aufgaben beibehält, wird Hirschhorn die operativen und Wachstumsstrategien, einschließlich der klinischen, Verkaufs- und Marketingteams, überwachen. Das Unternehmen strebt an, sein Portfolio zu straffen und profitables Wachstum zu verfolgen, mit dem Ziel, bis 2026 einen positiven Cashflow zu erreichen.
Im Rahmen der organisatorischen Neuordnung werden zwei Führungskräfte zum Jahresende das Unternehmen verlassen: die Chief Commercial and Growth Officer Kathy Weiler und der derzeitige COO Kurt Knight. Weiler trug zu Kostensenkungsinitiativen und zur Transformation der Wachstumsorganisation bei, während Knights 14-jährige Amtszeit Schlüsselrollen in den Bereichen Strategie, M&A, IPO, COVID-19-Betriebsgrößenanpassung und Management der Amwell Medical Group umfasste.
- Company targets cash flow positivity by 2026
- Streamlining operations under unified leadership
- Strategic consolidation of executive roles to improve operational efficiency
- Departure of two key executives including long-term COO
- Organizational restructuring indicating potential operational challenges
Insights
The consolidation of CFO and COO roles under Mark Hirschhorn represents a strategic restructuring aimed at streamlining operations and accelerating
The departure of both the Chief Commercial Officer and COO, while potentially disruptive in the short term, aligns with the company's cost optimization initiatives. Hirschhorn's expanded oversight of clinical, sales and marketing teams, combined with his financial responsibilities, suggests a more centralized decision-making structure that could enhance operational efficiency and reduce organizational redundancies.
For a telemedicine company operating in a post-pandemic market with intense competition and pressure on margins, this leadership consolidation indicates a defensive posture - prioritizing sustainable economics over aggressive expansion. The explicit timeline for positive cash flow serves as a important milestone for investors evaluating the company's financial trajectory.
This executive restructuring occurs at a pivotal moment for Amwell as the digital health sector faces significant headwinds. With reimbursement pressures mounting and virtual care utilization normalizing post-COVID, Amwell's strategic pivot toward operational efficiency reflects broader industry trends where telehealth providers must demonstrate sustainable business models.
The consolidation of financial and operational leadership under a single executive suggests a more coordinated approach to resource allocation and service delivery. This could enable faster decision-making in adapting to evolving healthcare market dynamics and payer requirements. However, the departure of Kurt Knight, who led through critical phases including COVID-19 scaling and the development of Amwell Medical Group, represents a significant loss of institutional knowledge that could impact strategic continuity.
Seasoned leader assumes responsibility for operations and sales as COO
BOSTON, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Amwell® (NYSE: AMWL), a leader in digital care, has announced Chief Financial Officer (CFO) Mark Hirschhorn will take on an expanded role as chief operating officer, effective Jan. 1, 2025.
Hirschhorn will now oversee the company's operational and growth strategies, including the clinical, sales and marketing teams, while continuing his responsibilities as CFO. This move reflects Amwell’s commitment to scale its innovative solutions to meet the growing demand for digital healthcare.
"Since joining Amwell, Mark has proven himself to be a strong leader, and we’re thrilled to have him step into this expanded role," said Ido Schoenberg, M.D., CEO and chairman of Amwell. "Mark’s operational experience, coupled with his extensive financial acumen, will help us continue to streamline the Amwell portfolio of services and pursue core channels of profitable growth while powering the digital care aspirations of our clients. With these changes, we enable a higher level of focus on our mission of connecting and empowering providers, insurers, and innovators to deliver more accessible, affordable, high-quality care for the benefit of all stakeholders. We also solidify our confidence in our path to cash flow positive in 2026."
"I am eager to take on the additional responsibilities as COO," said Hirschhorn. "I look forward to working closely with our talented and streamlined leadership team to sharpen our operational focus on key priorities, drive greater efficiencies, optimize cash flow and deliver profitable growth while pursuing our mission to redefine healthcare delivery through technology-driven solutions."
As Amwell continues to streamline processes and drive alignment, two executives will leave the company. Chief Commercial and Growth Officer Kathy Weiler, and Chief Operating Officer Kurt Knight, will depart Amwell at the end of the year. Over her tenure, Weiler has contributed to meaningful cost initiatives while transforming the company’s growth organization. Knight has provided substantial leadership over his 14-year tenure, including key roles in strategy, M&A, the company’s IPO, rapidly scaling operations through the COVID-19 pandemic, and building and managing the company’s affiliated network of providers, Amwell Medical Group®, a strategic service for payer and provider organizations.
“Kathy’s leadership led to the creation of a formally structured and professionalized growth organization, which has had a meaningful and lasting impact on our business. Kurt is a foundational partner in Amwell. He has made an incredible contribution to our company over many years. He played a major role in transforming Amwell into the company it is today, and I am forever grateful. I thank both leaders for their contributions to Amwell,” said Schoenberg.
About Amwell
Amwell is a leading hybrid care, delivery enablement platform in the United States and globally, connecting and enabling providers, payers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that hybrid care delivery will transform healthcare. We offer a single, comprehensive platform to support all digital health needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With nearly two decades of experience, Amwell powers the digital care of more than 50 health plans, which collectively represent more than 100 million covered lives, and many of the nation’s largest health systems. For more information, please visit https://business.amwell.com/.
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