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Hims & Hers Appoints New Chief Financial Officer; Elevates Dr. Patrick Carroll to Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
management
Rhea-AI Summary
Hims & Hers Health, Inc. (NYSE: HIMS) has announced key leadership changes to enhance its growth trajectory in the telehealth industry. Yemi Okupe, a finance veteran with experience at PayPal, eBay, and Uber, will assume the role of Chief Financial Officer on January 24, 2022. Dr. Patrick Carroll, the current Chief Medical Officer, is appointed to the Board of Directors. The company's strategic focus remains on transforming healthcare and wellness, reporting a 79% revenue growth to $74.2 million in Q3 2021, and expanding its market presence in underpenetrated sectors valued at $65 billion.
Positive
Appointment of Yemi Okupe as CFO, expected to enhance financial strategy.
Dr. Patrick Carroll's elevation to the Board may strengthen strategic direction.
79% revenue growth to $74.2 million in Q3 2021.
Continued expansion into large, underpenetrated markets valued at $65 billion.
Loss of Dr. Carroll's operational oversight may impact medical operations.
SAN FRANCISCO--(BUSINESS WIRE)--
Hims & Hers Health, Inc. (“Hims & Hers”, NYSE: HIMS), the multi-specialty telehealth platform focused on providing modern personalized health and wellness experiences to consumers, today announced a number of leadership appointments that firmly position the company for success in pursuit of its mission to transform the legacy healthcare and wellness industry. The company has named Yemi Okupe – a PayPal, eBay, Google, Braintree, and Uber veteran with a decade of experience scaling high-growth, industry-disrupting companies – as Chief Financial Officer. Additionally, Hims & Hers Chief Medical Officer Dr. Patrick Carroll is being elevated to the company’s Board of Directors.
Yemi Okupe, the new Chief Financial Officer for Hims & Hers Health, Inc. (“Hims & Hers”, NYSE: HIMS), the multi-specialty telehealth platform focused on providing modern personalized health and wellness experiences to consumers. (Photo: Business Wire)
With his appointment as CFO, Mr. Okupe brings to Hims & Hers a wealth of experience in financial leadership positions at high-growth, B2C companies that have successfully transformed entire industries. From 2019 to 2021, Mr. Okupe served as a Divisional CFO at Uber, first in charge of UberEats – one of the largest food delivery platforms in the world – and later of Uber’s global mobility unit, which included ridesharing, transit, and micro mobility services across 60 countries. Mr. Okupe has also served in a number of financial leadership positions at eBay and PayPal – including as Divisional CFO of Braintree – and Google, where he was the finance lead for Google Payments and Google Express. Since June 2021, Mr. Okupe has served as CFO of Hipcamp. He is a graduate of Stanford Business School. His appointment as Hims & Hers CFO will take effect on January 24, 2022.
“We’re delighted to welcome Yemi to the Hims & Hers family,” said Hims & Hers CEO Andrew Dudum. “Yemi’s superpower is taking high-growth companies with the potential to transform entire industries and helping them to seize that opportunity, scale rapidly, and build a business for the long-term. We could not have found a better person to help lead us through this next phase of growth as we continue our efforts to remake the healthcare and wellness industry.”
In addition to Mr. Okupe’s appointment, Hims & Hers has also elevated Dr. Patrick Carroll to the company’s Board of Directors. A healthcare industry veteran who served as the Chief Medical Officer at Walgreens, Dr. Carroll joined Hims & Hers in the same position in 2019. He has been instrumental in helping to develop and operationalize high-quality medical care programs, while also helping Hims & Hers expand into new medical verticals, such as mental health and primary care services. As a member of the Board, Dr. Carroll will continue to help set the strategic vision for the company and ensure high-quality care across the company’s scope of practice.
As part of his transition to the Board, Dr. Carroll will step down as Chief Medical Officer and transfer his day-to-day responsibilities overseeing Hims & Hers’ medical operations to Dr. Peter Stahl and Dr. Aimee Paik, both of whom serve as Senior Vice Presidents at the company. Dr. Stahl served as Director of Male Reproductive and Sexual Medicine at New York-Presbyterian Hospital/Columbia University Irving Medical Center and Associate Professor of Urology at the Columbia University Vagelos College of Physicians and Surgeons prior to joining Hims & Hers in 2020. He currently practices urology privately in New York. Dr. Paik joined Hims & Hers in July 2021 when the company acquired Apostrophe. She previously served as Apostrophe’s Medical Director. Dr. Paik completed her medical education at the University of California San Diego School of Medicine. She has been a board-certified dermatologist since 2012.
These leadership announcements come as Hims & Hers continues to deliver on its mission to transform the healthcare and wellness industry and become the front door to healthcare for a new generation of consumers. Since launch, Hims & Hers has conducted 4.6 million telehealth consultations. The majority of its customers are millennials, and over 80 percent are first-time buyers. Hims & Hers continues to drive growth in massive and underpenetrated markets, such as hairloss, sexual wellness, dermatology, and anxiety and depression, which together account for a total addressable market of $65 billion.
The company also continues to post record growth. In Q3 2021, Hims & Hers exceeded guidance and reported 79% revenue growth to $74.2 million, grew subscriptions by 95% to 551,000, and raised its full year 2021 guidance. In recent months, Hims & Hers has rolled out a number of high-profile retail partnerships with companies like Walgreens, Amazon, Uber, Revolve, Vitamin Shoppe, and Bed, Bath and Beyond. Hims & Hers is also preparing to roll-out a new mobile platform to its over 500,000 subscription members that will represent a first-of-its-kind healthcare and wellness experience for consumers, including curated programs for chronic conditions, a 24/7 concierge service, and more.
What leadership changes has Hims & Hers recently announced?
Hims & Hers announced the appointment of Yemi Okupe as Chief Financial Officer and the elevation of Dr. Patrick Carroll to the Board of Directors.
When does Yemi Okupe start as CFO of Hims & Hers?
Yemi Okupe will officially take on the role of Chief Financial Officer on January 24, 2022.
What are the expected impacts of the leadership changes at Hims & Hers?
The leadership changes aim to strengthen financial strategy and strategic direction as the company continues to grow in the healthcare and wellness sectors.
What was Hims & Hers revenue growth in Q3 2021?
Hims & Hers reported a 79% revenue growth, reaching $74.2 million in Q3 2021.
What market opportunities is Hims & Hers targeting?
Hims & Hers is focusing on underpenetrated markets such as hair loss, sexual wellness, and mental health, together valued at $65 billion.
