Dive Brief:

• Mike Noonan will step down from his CFO role at Noom, a digital health company, in order to take on the financial helm at travel company Tripadvisor following the retirement of the travel company’s current CFO Ernst Teunissen, according to a company release. The moves are effective Oct. 31. Teunissen is stepping down to “pursue other interests” and will be staying with the company through the first quarter of fiscal year 2023 to ensure a smooth transition with the incoming CFO, according to the release.
• The succession plan was announced Tuesday, the same day Noom initiated a round of layoffs, according to a company spokesperson. “Noom has experienced extraordinary growth over the past several years, and it’s essential that we are structured in a way that enables us to continue growing over the long term,” the company spokesperson wrote in an emailed statement.
• Noonan “brings a dynamic set of experiences across consumer brands and digital business models and a strategic perspective grounded in a deep knowledge of the travel industry, along with a broad and tenured background in corporate finance, long-term financial planning, and capital markets,” Tripadvisor CEO Matt Goldberg said in a company statement.

Dive Insight:

Prior to taking the top finance seat at Tripadvisor, Noonan has been the first ever CFO for Noom — a digital platform which uses a combination of psychology and human coaching to inspire weight loss — since November 2020. 

Before leaving for Noom, Noonan also served as the senior vice president and head of investor relations at online travel firm Booking Holdings from January of 2016, according to his LinkedIn profile. 

Noonan’s departure and its workforce cuts “are two separate, unrelated announcements,” the company spokesperson wrote in the email.

The new finance chief of the Needham, Ma-based online travel company will be reporting to Goldberg, who also recently took on his C-suite role earlier this year in July.

Tripadvisor’s revenue rose 77% to $417 million year-over-year in the second quarter, the company reported Aug. 4. The company cited an increase in consumer demand for travel post pandemic as a factor that contributed to their strong earnings, according to a release.