Benefitfocus Names Barry Libert to Board of Directors

Rhea-AI Summary

Benefitfocus has appointed Barry Libert to its board of directors, increasing the total number of directors to seven. Libert, a strategic advisor to BuildGroup, brings extensive experience in digital business models and AI-powered platforms. His previous consulting roles included notable companies like Salesforce and Neiman Marcus. Executive chairman Mason Holland highlighted Libert's potential to enhance the company’s platform expansion, focusing on delivering superior benefits and healthcare solutions for customers.

Positive

• Appointment of Barry Libert expected to drive business model transformation.
• Libert's expertise in AI and digital platforms could enhance innovation.
• Increased board diversity with the addition of experienced members.

Negative

• Concerns about continuity and potential knowledge gaps from new board composition.

CHARLESTON, S.C., Sept. 15, 2020 (GLOBE NEWSWIRE) -- Benefitfocus, Inc. (NASDAQ: BNFT), a leading cloud-based benefits technology platform enabling rapid innovation for employers, health plans and consumers, today announces the appointment of Barry Libert to its board of directors, bringing the total number of Benefitfocus directors to seven. Libert is also a strategic advisor to BuildGroup, a major investor in Benefitfocus, and joins Lanham Napier as BuildGroup’s second board member under the terms of their investment.

“Barry brings a wealth of experience in digital business models, and in particular AI-powered platforms to the Benefitfocus board,” said Mason Holland, executive chairman. “We look forward to his insight and counsel as we continue to expand our platform in delivering, enrolling and communicating benefits and health care solutions for our customers.”

Libert is an expert in digital business models, particularly platforms powered by artificial intelligence (AI). Throughout his career, Libert has served as an advisor to CEOs and boards on how to transform their business models from product to platform, customer to network, and from data to AI, in order to achieve exponential growth and value. Previous clients include Barrack Gold, iRobot, Neiman Marcus and Salesforce. He began his career with McKinsey & Company, is a graduate of Tufts University (Magna Cum Laude) and holds an MBA from Columbia University (Beta Gamma Sigma).

“I am very excited to join the Benefitfocus board and support the acceleration of its business model transformation,” said Libert. “Benefitfocus’ ever-expanding platform of partners and consumers, along with its ability to use AI and data to offer superior value for its customers, can lead to exponential growth for the company. I look forward to being a part of that success.”

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About Benefitfocus
Benefitfocus (NASDAQ: BNFT) unifies the entire U.S. benefits industry on a single technology platform to protect consumers for life. Our powerful cloud-based software, data-driven insights and thoughtfully-designed services enable employers, insurance brokers, health plans and suppliers to simplify the complexity of benefits administration and deliver health, wealth, property and lifestyle products through a world-class benefits experience. Learn more at www.benefitfocus.com, LinkedIn and Twitter. 

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results or performance might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include:  our ability to compete effectively; the need to innovate and provide useful products and services; risks related to changing healthcare and other applicable regulations; the immature and volatile nature of the market for our products and services;  our ability to maintain our culture and recruit and retain qualified personnel;  privacy; security and other risks associated with our business; management of growth; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec-filings or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law. 

Benefitfocus, Inc.
843-981-8898
pr@benefitfocus.com

Investor Relations:
Patti Leahy
843-981-8899
ir@benefitfocus.com   

FAQ

Who is Barry Libert in relation to Benefitfocus?

Barry Libert has been appointed to the board of directors at Benefitfocus, bringing expertise in digital business models and AI.

What impact might Barry Libert's appointment have on Benefitfocus?

Libert's experience may accelerate Benefitfocus's business model transformation and innovation in its offerings.

How many directors are currently on the Benefitfocus board after Barry Libert's appointment?

With Barry Libert's appointment, the Benefitfocus board now consists of seven directors.