Stuart Huizinga, the longtime CFO of eHealth, is resigning from the private online health insurance exchange operator as the company begins a new chapter of leadership.
David Francis, most recently an equities analyst at investment bank RBC Capital Markets, takes over for Huizinga. His full responsibilities begin this fall.
The CFO switch comes a little more than a month after eHealth announced that Scott Flanders, the former CEO of Playboy Enterprises and previously an eHealth board member, replaced longtime CEO Gary Lauer. eHealth, an online broker for private health plans, has faced challenges in its business model since the Affordable Care Act prompted new state and federal insurance marketplaces.
Lauer and Huizinga instituted a wide cost-cutting program last year, including 160 layoffs, to fend off losses and lagging sales from health plan commissions. On several earnings calls during the past year, Huizinga reinforced eHealth's heavier focus on helping people sign up online for Medicare Advantage plans, while more individual market enrollees use the ACA's exchanges.
Huizinga has been with eHealth for more than 16 years. His last day will be Sept. 30. For a year after that date, Huizinga will stay on as a consultant earning $335,000. His average annual compensation over the past three years, including stock, was about $824,000.
Francis' base salary will be $360,000, more than Huizinga's $325,000 salary in 2015. He is eligible for up to $216,000 in cash bonuses. Francis also will receive stock, as well as money to relocate to eHealth's headquarters in the San Francisco Bay Area.
