athenahealth Announces Chief Financial Officer Transition


John A. Kane Appointed Interim Chief Financial Officer

Karl Stubelis Steps Down to Pursue Other Opportunities

Company Reaffirms Fiscal Year 2017 Guidance

WATERTOWN, Mass., July 14, 2017 (GLOBE NEWSWIRE) -- athenahealth, Inc. (NASDAQ:ATHN), a leading provider of network-enabled services for hospital and ambulatory clients nationwide, today announced that John A. “Jack” Kane, a member of the athenahealth Board of Directors and current chair of the Board’s Audit Committee, will serve as interim chief financial officer, effective July 21, 2017. Karl Stubelis is stepping down as chief financial officer to pursue other opportunities. To help ensure a smooth transition, Mr. Stubelis will continue to support the Company through the reporting of athenahealth’s 2017 second quarter results. athenahealth has initiated a search to identify a permanent CFO and has retained DHR International to assist in the process.

Jonathan Bush, chairman and chief executive officer of athenahealth, said, “This CFO transition reflects our commitment to ensuring that athenahealth has world-class leaders to support the Company and our increased scale and scope. We intend to focus our CFO search on leaders who bring a record of operating discipline and value-creating capital allocation. I look forward to working closely with the athenahealth Board, especially Jack Kane and Tom Szkutak, former CFO of Amazon, to identify the best individual for the role.”

“Jack’s knowledge of athenahealth and his experience serving as the CFO of another public healthcare technology company make him well suited to serve as interim CFO during this transition,” Mr. Bush continued. “We are pleased to benefit from his expertise and counsel in this expanded role.”

Mr. Kane said, “I look forward to working closely with the athenahealth team as I take on these additional responsibilities. We share Jonathan’s confidence in athenahealth and his focus on identifying a CFO who can serve as a strong partner to the senior management team in guiding the Company’s success.”

Mr. Bush concluded, “I want to thank Karl for his contributions and wish him well in his future endeavors.”

In connection with today’s announcement, the athenahealth Board intends to reconstitute its Audit Committee and expects to appoint Tom Szkutak as chair, effective with Mr. Kane’s appointment as interim CFO.

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