Benefitfocus named a new chief financial officer Monday, tapping an executive of a Georgia software company to manage its books.
Jeffrey Laborde started last week at Daniel Island-based Benefitfocus, coming from Atlanta-based Infor Inc., a business software company where he was CFO for about a year.
Laborde, 44, held the same role at SumTotal Systems, a Florida human-resources tech company, and he was previously a managing director of Goldman Sachs’ technology group in San Francisco. Goldman is among Benefitfocus’s biggest investors, owning about 20 percent of the company.
Benefitfocus, which sells benefits management software, is one of the region’s largest publicly traded companies, recording $185 million in sales last year. The company, which has 1,450 employees, has grown rapidly since going public in 2013, but it has yet to turn a profit.
“His demonstrated leadership in the technology sector and extensive experience leading high-performing teams will be instrumental in supporting our rapid growth,” Benefitfocus CEO Shawn Jenkins said in a statement announcing Laborde’s arrival.
The announcement caps the company’s second search for a finance chief this year after CFO Milt Alpern retired this spring. Benefitfocus hired his replacement, Dennis Story, in July, but he stepped down shortly thereafter, citing family reasons.
Laborde will earn a base salary of $400,000, but he’ll be eligible for incentives, too, with a target bonus of $300,000, according to a securities disclosure filed Monday. He’ll also receive more than 60,000 shares of Benefitfocus stock over the next several years if he stays with the company; based on Monday’s closing price, those shares would be worth nearly $2.5 million.
Reach Thad Moore at 843-937-5703 or on Twitter @thadmoore.