Teladoc Health CEO Jason Gorevic is stepping down from his position after 15 years, following a 22% decline in the company's stock in February. Mala Murthy, the current CFO, will step in as acting CEO until a permanent replacement is identified.

Stock prices of Teladoc began falling after the company released its FY2023 results, which indicated that the company had missed its Q4 2023 earnings estimates and that it was projecting revenues between USD 630 million and 645 million which would result in a net loss per share of USD 0.45–0.55. 

Teladoc aims to continue its operations effectively during this transition period, as per Murthy. They have engaged an executive search firm to find a permanent CEO, keeping in consideration both internal and external candidates. 

Analyst Quicktake: Teladoc has faced some difficulties in the recent past. From its historic USD 13.7 billion loss in FY2022 after its acquisition of Livongo, to having to fight a multi-year securities class action lawsuit (which was only resolved last year), the company has had its share of turbulence. These events have reflected in its share price  which has plummeted from a high of ~USD 293 in February 2021 to its price today of ~USD 14, signaling a lack of confidence in the company.