17 May 2018Analysis

Clearwater reveals CEO; founder Chaput takes on exec chair role

Healthcare cyber risk management solutions provider Clearwater Compliance has appointed founder Bob Chaput as its new executive chairman, with Steve Cagle succeeding him as CEO.

Concurrently, Baxter Lee has been appointed as chief financial officer, joining from software company Entrada. Here, he served as CFO since 2015 and helped lead Entrada through its acquisition by NextGen Healthcare.

Current CFO Mary Chaput will be transitioning into an advisory role and will continue to serve as a director on Clearwater's board.

“From day one, my intent has been to create a company uniquely equipped to drive positive change across the healthcare industry,” said Bob Chaput. “We are extremely excited to welcome Steve and Baxter as our next CEO and CFO, respectively. We are confident that Steve Cagle will continue to build on Clearwater’s market leadership, serving hospitals and health systems with innovative cyber risk management solutions. Steve joins Clearwater with a track record for building value at healthcare and technology companies and driving operational excellence.”

Cagle previously served as CEO of Moberg Pharma North America and CEO of Alterna. In addition, Cagle was a founding team member of Sparta Systems, a provider of enterprise quality management software used by the pharmaceutical and medical device industries to enforce regulatory compliance and manufacturing best practices.

Lee will be responsible for leading Clearwater’s finance organisation, including budgeting, business planning, tax, accounting and reporting.

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