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Bright Health Hires Former Target Exec As New CFO

Hot off one helluva funding round, Bright Health has announced its new CFO. Cathy Smith, a former Target executive, will replace Don Powers and oversee the Minneapolis-based health insurance startup’s financial health which, just as a another reminder, is doing quite well.

“Bright Health’s approach to crafting broad-reaching, consumer-centric healthcare solutions is unique within the market,” Smith said in a release. “I’ve also been impressed by Bright Health’s exceptional leadership team… I’m thrilled to join them to create one of the country’s most innovative consumer healthcare brands.”

Before serving four years as the CFO at the big red bullseye (a position from which she retired in early 2019), Smith was the executive vice president and CFO for Express Scripts, the biggest pharmacy-benefits manager in the county, and has also worked in CFO roles for companies such as Walmart and GameStop.

“As we continue to build a world class executive team here at Bright Health, we are committed to bringing together seasoned executives who think differently about healthcare and have a shared vision for transforming this industry,” Mike Mikan, Vice Chairman and President of Bright Health, said in a release. “Cathy has distinguished herself as a financial leader capable of delivering results with a relentless focus on the consumer and she will play a crucial role in this next stage of our growth.”

Alex Skjong
Alex oversees the content produced for BETA, Twin Cities Startup Week, and When he’s not writing or editing, there’s a good chance he’s enjoying a refreshing brew and explaining the merits of heavy metal (of which there are many).