HealthEquity has appointed Cheryl (Johnson) King as Chief People Officer. Hanold Associates’ Lisa Butkus Yae, Mayank Parikh, Adam Watson and Eleanor Tetreault led the search.
As Chief People Officer, Cheryl will lead a geographically distributed team of ~80 with responsibilities for talent lifecycle, total rewards, HRIS, culture, JEDI (justice, equity, diversity and inclusion) and corporate sustainability. As one of six executives reporting directly to HealthEquity CEO Jon Kessler, Cheryl will also serve as a member of the Executive Leadership Team and the primary executive supporting the Talent, Compensation and Culture Committee of the Board of Directors. Prior to joining HealthEquity, Cheryl served as Chief HR Officer at Paylocity.
HealthEquity administers Health Savings Accounts (HSAs) and other consumer-directed benefits for more than 14 million account holders nationwide, in partnership with more than 120,000 employers, 10,000 benefits advisors, and 185 health and retirement plan providers. HealthEquity has experienced consistent growth both organically and through acquisition, having reached $1 billion in HSA assets in 2012, $10 billion in 2019 and $20 billion less than three years later, making it the leading HSA provider by market share. The acquisition of WageWorks in 2019 gave the company a portfolio of other consumer directed benefits administration offerings alongside its flagship HSA. The company’s shares have been publicly traded on the NASDAQ stock exchange since 2014 under the ticker HQY, and it currently has a market cap of more than $6 billion. Headquartered in Draper (Salt Lake City), Utah, HealthEquity has ~3,500 teammates across 46 states.