HealthEquity Announces CFO Transition

DRAPER, Utah, June 26, 2020 (GLOBE NEWSWIRE) -- HealthEquity, Inc. (NASDAQ: HQY) (“HealthEquity” or the “Company”), today announced that Tyson Murdock has been appointed Executive Vice President and Deputy Chief Financial Officer, effective July 1, 2020, and will succeed Darcy Mott as Chief Financial Officer (CFO) April 1, 2021. Mr. Mott will continue in his current position as Executive Vice President and CFO through March 31, 2021 to ensure a smooth transition and completion of the fiscal year 2021 Form 10-K filing for the Company and will then transition into an advisory role to the Chief Executive Officer (CEO).

Mr. Mott will complete 14 years of service as HealthEquity’s CFO, including preparing the Company for its IPO in 2014. Under his financial leadership, HealthEquity grew from less than $5 million to more than $530 million in revenue, while consistently improving cash flow and increasing profitability year after year.

“Darcy has been an incredible partner in building HealthEquity, a leader of leaders and a passionate advocate for our mission to help working families connect health and wealth,” said Jon Kessler, President and CEO of HealthEquity. “He has built a remarkable finance team that guides our growth while keeping our financial commitments. We look forward to a smooth transition of leadership and his continued valuable insights in his advisory role.”  HealthEquity Founder and Vice Chairman Dr. Stephen Neeleman added, “Darcy both champions and personifies our purple values and culture.”

Mr. Murdock joined HealthEquity in 2018 as Senior Vice President and Corporate Controller and brings 25 years of corporate finance experience to his new role as CFO. Prior to joining HealthEquity, Mr. Murdock served as divisional CFO for eBay and Senior Manager at Ernst & Young, LLP.

“Tyson brings a proven track record of strong financial leadership,” said Mr. Kessler. “Tyson has been a key leader in the WageWorks integration process and will be integral in our success going forward.”

About HealthEquity

HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for our more than 12 million accounts in partnership with employers, benefits advisors, and health and retirement plan providers who share our mission to connect health and wealth and value our culture of remarkable “Purple” service. For more information, visit www.healthequity.com.