LifeStance Names Dave Bourdon CEO, Ken Burdick Executive Chairman
LifeStance Health Group, Inc. (“LifeStance” or the “Company”) (Nasdaq: LFST), one of the nation’s largest providers of outpatient mental health care, announced today the appointment of Dave Bourdon as the Company’s new Chief Executive Officer (CEO). Bourdon, who has served as LifeStance’s Chief Financial Officer (CFO) since 2022, succeeds Ken Burdick, who is retiring as CEO and will transition to the role of Executive Chairman of the Board. Bourdon will also join the Board of Directors. Additionally, Ryan McGroarty has been named the new CFO, effective March 17, 2025, bringing over 25 years of healthcare experience, including 15 years in CFO roles.
Bourdon’s appointment takes effect on Monday, March 3, 2025. McGroarty’s appointment as CFO will begin on March 17, 2025.
In a statement, Ken Burdick expressed his confidence in the leadership transition. “Since joining LifeStance, we’ve made tremendous progress fortifying our foundation and strengthening our leadership bench to ensure that we provide an exceptional patient experience in alignment with our mission,” said Burdick. “Given our consistently strong operational and financial performance, I believe this is the right time for a new CEO. I am confident that Dave is exceptionally qualified to lead LifeStance into this exciting new chapter. I will continue to contribute to our long-term strategic direction as Executive Chairman.”
Burdick emphasized the importance of leadership continuity, noting, “Having worked closely with Dave, I know his strategic thinking, deep healthcare experience, and collaborative leadership style will help LifeStance maintain its strong momentum. His commitment to our core values and his passion for expanding access to high-quality, affordable mental health care make him the right leader to guide the company forward.”
In response, Bourdon said, “I am honored to serve as LifeStance’s next CEO. I look forward to leading such an incredibly dedicated and talented team as we continue to transform mental health care and expand access to communities across the country. I’m proud of the progress we’ve made over the last two years and am excited to drive clinical and operational excellence while delivering exceptional service for our patients and profitable growth for our shareholders. It has been a privilege to work alongside Ken, and I am eager to continue our collaboration as he steps into the Executive Chairman role.”
Bourdon joined LifeStance in 2022 as CFO, bringing over 20 years of experience in both financial and operational roles within the healthcare and mental health industries. Prior to LifeStance, he served as CFO at Magellan Health, a leader in behavioral health and pharmacy management. He also held various leadership positions at Cigna and began his career with the United States Coast Guard, where he served for eight years.
Ken Burdick, who has led LifeStance as CEO and Chairman since September 2022, has had a distinguished 45-year career in healthcare. Under his leadership, LifeStance delivered consistent financial performance, meeting or exceeding expectations for nine consecutive quarters. Before joining LifeStance, Burdick was Executive Vice President of Markets and Products at Centene Corporation and previously served as CEO of WellCare Health Plans, Inc., where he focused on providing quality healthcare for Medicare and Medicaid beneficiaries.
Ryan McGroarty, who will assume the role of CFO on March 17, brings deep financial and healthcare expertise to LifeStance. McGroarty most recently served as CFO of Help at Home, the nation’s leading provider of in-home care services for seniors and people with disabilities. He has also held multiple senior CFO roles at Cigna, including CFO of the Government Business division. McGroarty’s experience spans government and commercial programs, healthcare delivery, and value-based healthcare solutions.
“Ryan’s extensive experience in both healthcare delivery and financial management makes him the ideal CFO to help guide LifeStance into its next phase of growth,” said Bourdon. “His expertise in government and commercial healthcare, as well as his leadership in value-based care models, will be instrumental as we continue to expand access to high-quality mental health services nationwide.”
As previously announced, LifeStance will hold a conference call on February 27 at 8:30 a.m. Eastern Time to discuss its fourth-quarter and full-year 2024 financial results.
About LifeStance Health Group, Inc.
LifeStance Health Group, Inc. is one of the largest providers of outpatient mental health care in the United States. The Company is dedicated to providing high-quality, accessible, and affordable mental health care to individuals across the country. With a network of mental health professionals, LifeStance offers a wide range of services, including therapy, psychiatry, and telehealth options, aiming to make mental health care more accessible to people everywhere.
