Trupanion’s Margi Tooth Appointed Chief Executive Officer Effective August 1, 2024

Founder and CEO Darryl Rawlings to continue to serve as Chair of the Board in furtherance of previously announced succession plan

SEATTLE, May 02, 2024 (GLOBE NEWSWIRE) -- Trupanion, Inc. (Nasdaq: TRUP), a leading provider of medical insurance for cats and dogs, today announced that its Board of Directors has unanimously approved the appointment of Margi Tooth to Chief Executive Officer, effective August 1, 2024. Tooth’s appointment to CEO marks the culmination of a multi-year, board-led process. Tooth will also continue as President and hold the dual titles of CEO and President. Additionally, Tooth is anticipated to be appointed to Trupanion’s Board of Directors during its July meeting. Trupanion’s founder and outgoing CEO Darryl Rawlings will continue to serve in the role of Chair of the Board, in which capacity he will continue to oversee the Company’s board of directors.

Tooth holds nearly two decades of experience as a growth-oriented leader within the pet insurance category. Her tenure includes over seven years with the UK’s largest pet insurance provider, during which time the category saw tremendous growth, reaching approximately 25% penetration.

Tooth’s appointment to CEO follows a proven career at Trupanion, spanning over a decade in leadership positions of increasing responsibility including Chief Marketing Officer, Chief Revenue Officer and as of January of 2021, President. During her time at Trupanion, Tooth has played a pivotal role in the company's growth and success, overseeing the execution of its strategic plan which includes diversifying into new channels, products, and geographies, while ensuring that the core Trupanion product, designed with the heart of the veterinary community in mind, remains front and center. Under her leadership, Trupanion has achieved significant milestones, including surpassing $1 billion in revenue, reaching over 1 million subscription pets, and paying out nearly $3 billion in veterinary invoices. Additionally, Tooth's leadership has led to improving operational efficiency through targeted overhauls in several departments.

Ms. Tooth's extensive experience, including serving as President of Trupanion since 2021, coupled with her deep understanding of the pet insurance industry, strongly positions her to lead Trupanion into its next phase of growth in its global underpenetrated markets, while staying aligned with the needs of veterinarians and pet owners.