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Posted 28 June, 2022

Ontrak, Inc. appointed Terren S. Peizer as new CEO

Nasdaq:OTRK appointed new Chief Executive Officer Terren S. Peizer in a 8-K filed on 28 June, 2022.


  On June 27, 2022, the Board of Directors (the "Board") of Ontrak, Inc. (the "Company") appointed Terren S. Peizer, age 62, the Company's current Executive Chairman, as Chief Executive Officer of the Company, effective August 12, 2022.  

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Overview of Ontrak, Inc.
Health Care/Life Sciences • Healthcare Provision
Ontrak, Inc. engages in the provision of data analytics based behavioral health management and integrated treatment services to health plans. It offers services through its Ontrak platform solution, which is designed to improve member health, and at the same time, lower costs to the insurer for underserved populations where behavioral health conditions cause or exacerbate co-existing medical conditions. The company was founded by Terren S. Peizer on February 13, 2003 and is headquartered in Miami, FL.
Market Cap
$5.90M
View Company Details
Ontrak, Inc. by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


Chief Executive Officer Transition


On June 24, 2022, Chief Executive Officer Jonathan Mayhew gave notice of his resignation. His resignation will be effective August 12, 2022. 


On June 27, 2022, the Board of Directors (the "Board") of Ontrak, Inc. (the "Company") appointed Terren S. Peizer, age 62, the Company's current Executive Chairman, as Chief Executive Officer of the Company, effective August 12, 2022. Mr. Peizer was not appointed as the Company's Chief Executive Officer pursuant to any arrangement or understanding with any other person, and Mr. Peizer has no family relationships with any current director, director nominee, or executive officer of the Company. Mr. Peizer's biographical information is contained in the Company's Form 10-K filed with the Securities and Exchange Commission on April 15, 2022 (the "Form 10-K"). The Company and an affiliate of Mr. Peizer are party to a Master Note Purchase Agreement, also known as "Keep Well Agreement," the terms of which are described in the Form 10-K. 


Appointment of Brandon H. LaVerne as Co-President and Chief Operating Officer


On June 27, 2022, the Board appointed Brandon H. LaVerne, age 50, as Co-President and Chief Operating Officer of the Company, effective immediately. Mr. LaVerne has served as the Company's Chief Financial Officer from March 2020 until the date of his promotion, at which time the office of Chief Financial Officer was transitioned to James J. Park (see discussion below). Mr. LaVerne's biographical information is contained in the Company's Form 10-K. Mr. LaVerne was not appointed as the Company's Co-President and Chief Operating Officer pursuant to any arrangement or understanding with any other person, and Mr. LaVerne has no family relationships with any current director, director nominee, or executive officer of the Company. 


Appointment of Mary Louise Osborne as Co-President


On June 27, 2022, the Board appointed Mary Louise Osborne, age 61, as Co-President of the Company, effective immediately. Ms. Osborne will continue to serve as the Company's Chief Customer Officer, a position she has held since August 2021. Ms. Osborne's biographical information is contained in the Company's Form 10-K. Ms. Osborne was not appointed as the Company's Co-President pursuant to any arrangement or understanding with any other person, and Ms. Osborne has no family relationships with any current director, director nominee, or executive officer of the Company. 


Appointment of James J. Park as Chief Financial Officer


On June 27, 2022, the Board appointed James J. Park, age 45, as Chief Financial Officer of the Company, effective immediately. Mr. Park replaces Brandon H. LaVerne as the Company's Chief Financial Officer. Mr. Park will continue to serve as the Company's Chief Accounting Officer, a position he has held since September 2019. Mr. Park's biographical information is contained in the Company's Form 10-K. Mr. Park was not appointed as the Company's Chief Financial Officer pursuant to any arrangement or understanding with any other person, and Mr. Park has no family relationships with any current director, director nominee, or executive officer of the Company.