The longest-serving member of Tivity Health’s executive team will part ways with the Franklin company at the end of this year.
Mary Flipse and other Tivity officials on Monday signed papers that will have her step down as chief legal and administrative officer on Dec. 31. She has held those roles since November 2015 and before that was general counsel for nearly three years. Flipse, a former Pfizer assistant GC, joined what was then still Healthways in August 2011 as operations counsel.
Word of Flipse’s planned departure comes about two months after Steve Janicak, who had led Tivity’s health care business for nearly two years, left the company a few months after new CEO Richard Ashworth came aboard in the wake of the departure of former CEO Donato Tramuto. The leadership change came Tramuto and his team reported that they were writing down the value of Nutrisystem by hundreds of millions of dollars and had said goodbye to that business’ leaders, Dawn Zier and Keira Krausz. (Ashworth and Tivity’s board recently announced they had struck a deal to sell Nutrisystem to a private equity firm for less than half of what Tivity paid for it in March of last year.)
“Mary has been an influential leader at Healthways and Tivity Health for more than nine years. With the pending divestiture of the Nutrition Division, we are focused on organizing our healthcare business for growth with a lean and efficient structure that will ensure we have the capital needed to grow and scale. As part of that process and to support the closing of the divestiture and a smooth transition, Mary will leave the company at the end of this year. We appreciate her many contributions.”
Per her separation agreement, Flipse will get various payments and benefits, including 18 months’ worth of her $427,000 annual salary and group medical benefits. Flipse was given a $39,000 raise last year after Tivity completed its acquisition of Nutrisystem.
Shares of Tivity (Ticker: TVTY) were up nearly 5 percent to $15.24 in Tuesday afternoon trading. They began the year above $20 and were changing hands above $40 before Tramuto announced the Nutrisystem deal two years ago.