CVS Health’s transformation leader to take top job at Ontrak
Jonathan Maythew, CVS Health executive vice president and chief transformation officer, is departing the company to become CEO of Ontrak, effective April 12. Mayhew will succeed Terren Peizer, founder and CEO of the AI-powered and telehealth-enabled virtualized healthcare company, who is becoming executive chairman.
"Jonathan is a seasoned leader with deep experience building and leading multibillion-dollar businesses, strong relationships with c-suite executives in the healthcare industry, and a proven track record of delivering record growth," Peizer said. "I very much look forward to supporting Jonathan. In my new role as executive chairman, I will continue to focus on our capital formation and shareholder value-added transactions, drive our mission-driven culture, and collaborate with Jonathan on our long-term growth strategy."
As CVS Health executive vice president and chief transformation officer, Mayhew had enterprise-wide oversight of the entire portfolio of CVS business transformation initiatives and played a key role in shaping CVS Health’s integrated value story. Previously, he was president of U.S. Markets for the Aetna health care business, responsible for $52 billion in revenue and $4.3 billion in operating income for the insurer's commercial and Medicare lines of business. He also was responsible for commercial and Medicare sales and account management, all provider contracting and provider-relations activities.
Prior to joining Aetna, Mayhew was a founding principal, CEO and president of Freedom Disability. Mayhew also held senior leadership roles at Cigna, where he served as senior vice president of product, marketing and strategy for the enterprise, and president of the Northeast Region.
“Ontrak is a high-growth, high-potential company with a very exciting future," Mayhew said. "The company has industry-leading engagement and member satisfaction scores, third-party validated savings and ROI, and lasting clinical outcomes with the most challenging care-avoidant, high acuity members that represent 44% of the health industry’s medical expense. This is an irresistible opportunity for me to lead a company with an exceptionally talented team and to develop an integrated intervention platform for behavioral health powered by the market’s best engagement engine.”
Peizer — who founded the company 17 years ago and led it through Ontrak's launch and expansion of national health plan contracts — will continue to serve as chairman of the Ontrak board of directors and remains majority shareholder.
“It’s been a tremendous honor to serve as CEO of Ontrak since founding the company, and I’m incredibly proud of the accomplishments of our 700-person team,” said Peizer. “I have long looked forward to handing over the CEO reins to an executive of Jonathan’s stature, and the Ontrak board of directors and I are confident that he is the right leader to build upon our growth trajectory and scale the business."