Khanchit Khirisutchalual
Clover Health Investments (NASDAQ:CLOV) dropped ~2% pre-market Monday after announcing that Prabhdeep Singh, the health insurer's Chief Growth Officer, is stepping down effective Mar. 31.
Singh joined Clover Health (CLOV) in July 2021 from the commercial real estate company WeWork where he served as Global Head of Marketplace.
Singh, who holds a B.A. in Political Science and Philosophy from Boston College, has held multiple positions at Uber Eats and the international consulting firm GLG Labs at the Gerson Lehrman Group.
"Prabh's expertise, motivation and personal initiative has thoroughly and positively impacted our mission and transformed our team's approach to growth," Chief Executive Officer of Clover Health (CLOV) Andrew Toy said.
Singh has, however, agreed to provide consulting services for the company for three months from the date of resignation, Clover Health (CLOV) disclosed in a regulatory filing.
We're pleased he'll be continuing to advise us, and we're very excited to see what he does next," Toy added.
Read: Seeking Alpha contributor Bashar Issa notes that Clover Health (CLOV) has failed to reach its key profitability targets, "casting a shadow over the feasibility of its business model."