Outpatient behavioral health provider LifeStance Health (Nasdaq: LFST) is shaking up its C-suite with a new CFO and business transformation officer.
The current CFO, Michael Bruff, will move over to the newly created business transformation officer position. Meanwhile, Magellan Health vet David Bourdon will take over as CFO.
This comes only months after LifeStance named former UnitedHealthcare executive Ken Burdick its next CEO, following Michael Lester’s retirement. Earlier this year, the company announced Danish Qureshi would join the team as chief operating officer.
LifeStance was founded in 2015 and is the largest outpatient mental health provider in the U.S. It employs more than 5,200 clinicians and offers telehealth and in-person care.
Bourdon comes to LifeStance after serving as CFO of Magellan Health for the past two years. He worked for commercial payer Cigna (NYSE: CI) for more than 21 years, ending his career at the payer as senior vice president and CFO of Integrated Medical, International Markets and Group Life & Disability.
“What LifeStance has been able to achieve in terms of expanding access to high-quality, personalized mental healthcare is remarkable, and I’m excited to join a company that is dedicated to making patients’ lives better,” Bourdon said in a press release. “I look forward to collaborating closely with Mike and the executive leadership team to ensure a seamless transition and build on the already strong foundation that has been set.”
Meanwhile, in his new role, Bruff will be focused on driving “enterprise-wide strategic initiatives dedicated to simplifying processes and scaling systems and infrastructure.” Additionally, he will be focused on improving the patient and clinician experience.
“Mike’s strong financial and operational experience, desire to drive cross-functional improvements to the company’s performance and previous experience at public companies make him a great fit for this role,” CEO Burdick noted.
Bruff and Bourdon will both report to Burdick.
“I’m deeply passionate about LifeStance, our mission and our enormous potential. Given our plans for growth and profitability and my experience driving transformation, I feel that I can make a significant impact leading this new strategic initiative which will directly benefit both our patients and clinicians,” Bruff said in the release. “I appreciate the continued confidence and trust from both Ken and the Board to design and establish the Business Transformation Office, and I’m excited to partner with our new CFO, Dave Bourdon, to ensure a smooth transition of my responsibilities.”
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