Benefitfocus is dividing its top executive suite in two.
The Daniel Island-based software company has named Ray August as its new president, a title previously held by CEO and co-founder Shawn Jenkins, who remains as chief executive.
August will continue as chief operating officer in his expanded role at Benefitfocus, which reported a 31 percent jump in revenue last year. The former Computer Sciences Corp. executive joined the company as COO in August.
“Our vibrant growth as a company makes this the ideal time to expand the roles of CEO and president into two positions so that we can apply a specialized, synchronized focus to both our near- and long-term business goals,” Jenkins said in a statement. “The strategic design of these positions will allow us to optimize our position as industry leaders and fully capture the tremendous market opportunities ahead.”
He added that August’s promotion “recognizes the strong results he has already achieved over the past nine months in inspiring our teams, elevating our operations and laying the groundwork for enhanced profitability.”
Benefitfocus is one of the region’s largest locally based technology employers. It went public in 2013 and is investing $60 million to add office space and 1,300 jobs at its Daniel Island campus.
The fast-growing Charleston company specializes in cloud-based technology that manages employee benefits programs, such as health insurance.
Contact John McDermott at 937-5572.