Bright Health Picks Former Target Exec to Be CFO
Minneapolis health insurance startup Bright Health has tapped former Target exec Cathy Smith to serve as CFO.
As Bright Health’s CFO, she replaces Don Powers.
Most recently, Smith served as Target’s CFO and executive VP – a role she held for four years. She retired from Target in early 2019, but she has remained on board in a consulting role. She was originally slated to continuing consulting work through May 2020.
In a news release, Bright Health officials said Smith played an “integral role” in Target’s transformation over the years.
Before her time at Target, Smith served as CFO for Walmart International, GameStop, and Centex.
Smith’s appointment comes on the heels of Bright Health’s record $635 million fundraise – the largest raise in Minnesota in a decade. In total, Bright Health has raised more than $1 billion since its founding.