Another top leader at Talkspace Inc. (Nasdaq: TALK) is out of a job at the New York-based virtual behavioral health care company.
With little explanation, the company announced President and COO Mark Hirschhorn’s immediate resignation early Monday morning. Hirschhorn’s responsibilities will be picked up by the executive team at Talkspace.
The resignation apparently comes following “an internal review of Mr. Hirschhorn’s conduct in connection with a company offsite that took place late last week.” No other explanation was offered in a news release.
Both Hirschhorn and the company have so far not responded to a request to provide additional information.
Hirschhorn worked at Talkspace as president, chief financial officer and chief operating officer from February 2020 to July 2021. At that point, Talkspace hired Jennifer Fulk as CFO.
This is the second round of high-profile departures from the company. The Talkspace board of directors announced that company founders Oren and Roni Frank were no longer with the company. Oren Frank was CEO. Roni Frank was head of clinical services. Both held seats on the board of directors.
The release did not detail any plans to replace Hirschhorn. In the case of Oren Frank, the board of directors retained the high-profile Los Angeles-based executive search and consulting firm Korn Ferry to find a new CEO.
Both resignations come in the wake of poor performance on the part of Talkspace. A week ago, the company announced that, in the third quarter of the year, it failed to grow its business-to-consumer segment sufficiently, struggled with collecting on insurance claims and saw losses grow as marketing costs ballooned while revenue lagged.
Oren and Roni Frank co-founded Talkspace in 2012 and led the company through going public via merging with a special purpose acquisition corporation (SPAC) called Hudson Executive Investment Corp. (Nasdaq: HECCU).
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