DarioHealth (Nasdaq:DRIO) announced today that it named Eitan Shay to its newly created chief product officer position.
Shay’s work history includes leadership roles at digital health companies Livongo and Teladoc Health. He also held senior leadership positions at Meta Platforms.
“Demand for our solution continues to accelerate among payers and employers, and the ability to enhance and scale our intelligent platform is central to our growth strategy,” said Dario CEO Erez Raphael. “I could not be more excited to welcome Eitan to the Dario team, as his unique background offers a combination of experience in high-growth commercial product environments along with a deep understanding of consumer engagement.”
In addition to Shay’s appointment, Arnaud Robert joined as a strategic advisor to Raphael. Robert most recently served as EVP and chief digital officer at Sanofi. He also spent time at Viking Cruise Lines, Nike, Disney and Microsoft.
“I am also very pleased that Arnaud Robert will join Dario as a strategic advisor. His unique perspective and experience, having led digital strategy and innovation at many flagship companies, including Sanofi, Nike, and Disney, will serve us well and ensure that we remain at the forefront of the digital and data-driven transformation of healthcare.”
Eitan Shay joins Dario as chief product officer
In addition to his appointment, Shay received a non-qualified stock option. It enables him to purchase 100,000 shares of Dario common stock. The option also features a non-qualified performance-based stock option award to purchase an additional 80,000 shares of common stock.
These options were granted as an inducement material to Shay becoming an employee at Dario. They feature an exercise price per share equal to $3.93, the closing price of Dario stock on April 3. The time-based option vests over a three-year period. It remains subject to a one-year cliff beginning on April 3, 2023, subject to continued employment. The performance-based option vests upon achieving personal objectives to be set within 60 days from grant date.
“Having worked in digital health for the past several years, I am impressed with both the pace and success of Dario’s transformation to become a leading multi-chronic condition platform that provides a seamless and highly engaging user experience,” Shay said. “Consumer engagement through technology continues to transform the delivery of healthcare. I believe Dario is very well positioned to be a leader in the space, and I look forward to contributing to our future success.”
