Calibrate, the weight-loss startup backed by Founders Fund and Tiger Global, is making changes to its management team as investors restructure the company, according to an investor letter and internal correspondence seen by Fortune, as well as another person familiar with the changes.
Calibrate’s founder and chief executive, Isabelle Kenyon, is stepping down as CEO and will no longer oversee day-to-day operations, she confirmed in a Slack message sent to employees Monday afternoon that was seen by Fortune. In the note, she stated she would be staying with the company as “founder.” Calibrate CFO Dave Fielding will also step down, according to someone familiar with the matter. Potential replacements for both those roles are being interviewed, the person says. Calibrate executives Scott Honken and Ed Cudahy have been promoted to oversee day-to-day operations and will report directly to the board, according to Kenyon’s Slack message.
