Babylon Holdings Limited (“Babylon” or the “Company”), one of the world’s fastest growing digital healthcare companies, announces that David Humphreys will be appointed as the Company’s new Chief Financial Officer (CFO).
Mr. Humphreys has been at Babylon for nearly two years in the role of Finance Director, with overall responsibility for building and scaling Babylon’s finance function. Formerly, he was US-based as a Silicon Valley and New York Partner with PwC for over 20 years, working with Boards and leaders of fast-moving, rapid-growth companies including Tesla and Facebook to which he provided accounting consulting, transaction, IPO, M&A and auditing services to ensure compliance with PCAOB and SEC reporting requirements. During his time with PwC, Mr. Humphreys also served as a Practice Fellow at the International Accounting Standards Board, and is both a U.S. Certified Public Accountant (CPA) and an ICAEW Fellow Chartered Accountant.
Mr. Humphreys said “I am excited to be taking on the position of CFO and to lead Babylon through its next stage of growth as a listed company, having already led its Finance function for the last two years. I look forward to bringing my extensive experience of U.S. capital markets and providing financial strategic insights to boards of innovative growth companies to my role as CFO of Babylon.”
Current Chief Financial Officer, Charlie Steel, will leave his position to pursue another opportunity. Mr. Steel will remain at Babylon for a period to ensure the effective transition of his responsibilities to Mr. Humphreys.
Mr. Steel said “I am leaving Babylon in a strong position after five years and having overseen its massive growth, including over $1bn of fundraising and listing on the New York Stock Exchange.”
“I am proud of the team that we have built, including being able to hand the CFO role over to David, who has a wealth of experience, led the Finance function through Babylon’s listing and drove our recently announced cost reduction actions. I look forward to remaining a shareholder and wish Ali, and the rest of the business the very best in continuing this growth and delivering on Babylon’s mission.”
Georgi Ganev, CEO of Kinnevik and Per Brilioth, CEO of VNV Global, both Board members and Babylon’s two largest and longest-standing investor shareholders, said on behalf of the Board: “We thank Charlie for the time he has put into Babylon and wish him good luck at his future endeavors. We also heartily welcome David Humphreys as the new Babylon CFO. We have known David for the past years and have been impressed by his great contribution in leading the company’s finance team and his role in the current cost reduction initiatives which will help take the company to cash flow positive. Also his long U.S. experience with the likes of Tesla and Facebook is especially relevant given the large U.S. presence of Babylon. We have been among the company’s financial supporters for the past five years, are impressed with the revenue growth and enthusiastic to support Babylon in its next phase of growth.”
Ali Parsa, CEO and Founder of Babylon said “I am delighted that David has agreed to take on an expanded role with us. His deep experience of U.S. public markets and track record of advising global leading companies will provide us with tremendous financial stewardship as we continue to grow. I would like to take the opportunity to thank Charlie for his contributions in growing Babylon over the last five years and wish him all the best for the future in his new role. He will always be a Babylonian and a supportive shareholder.”