Diplomat appoints new CFO

FLINT, Mich. — Diplomat Pharmacy on Tuesday named Atul Kavthekar as its CFO and treasurer, effective May 1. Kavthekar will head up Diplomat’s financial operations and investor relations, as well as managing the company’s liquidity, balance sheet risk and capital market transactions, reporting directly to CEO and chairman Phil Hagerman.

“I couldn’t be more excited to welcome Atul to the Diplomat team,” Hagerman said. “He is highly qualified to lead our finance and accounting teams. In addition to his previous CFO experience, Atul has a deep background in financial management, operational improvement, and company leadership, as well as strategic corporate and business development.”

Kavthekar has more than 20 years of experience in finance, most recently serving as CFO at e-retailer LivingSocial from June 2015 to December 2016, where he was responsible for the company’s overall financial and operational business improvement. He also has worked at Walgreens and Sears Holdings’ health and wellness division (which includes Kmart pharmacy) in executive roles. He has experience as an investment banker, as well as in mergers and acquisitions.

“I have long been an admirer of the company and look forward to adding to the company’s strong reputation as a leader in the specialty pharmacy industry,” Mr. Kavthekar said. “As the leading independent specialty pharmacy, Diplomat has tremendous opportunity, and I look forward to contributing to its success.