FORT WASHINGTON, Pa.,
July 1, 2015 /PRNewswire/ -- The
Board of Directors of Nutrisystem, Inc. (NASDAQ: NTRI) today
announced the appointment of Michael D.
Mangan to the Board, effective immediately. As an
independent director of the company, Mr. Mangan will serve as
Chairman of Nutrisystem's Audit Committee.
"Mike has over 30 years of experience across consumer product
companies and will bring that perspective as well as his financial
expertise to our Board," said Mike
Hagan, Chairman of the Nutrisystem Board. "We look
forward to benefitting from his judgment and advice."
"I'm very excited to join the Nutrisystem board," said Mr.
Mangan. "I've admired what the board and leadership team have
accomplished in turning around this iconic brand. Our country is in
the midst of an obesity epidemic and Nutrisystem is providing
innovative options to help people change their lives and get
healthy. I look forward to helping Nutrisystem continue to extend
its leadership."
Mr. Mangan, 58, currently serves as the lead director at
McCormick & Co. A veteran of a number of high profile consumer
facing companies, Mr. Mangan has held leadership roles at Black
& Decker Corp. including President of Worldwide Power Tools
& Accessories, Chief Financial Officer and head of Investor
Relations. Prior to joining Black & Decker, Mr. Mangan served
as an Executive Vice President and the Chief Financial Officer of
Ryland Group, Inc.; and earlier in his career, he worked at General
Motors and its GMAC subsidiary in various positions involving
strategic and business planning, corporate finance and investments
and new business activities. Mr. Mangan has an MBA from
Dartmouth College Amos Tuck School of
Business and holds a Bachelor of Mechanical engineering degree from
General Motors Institute.
Nutrisystem's Board of Directors also announced that current
Board member, Stephen T. Zarrilli,
President and Chief Executive Officer of Safeguard Scientifics,
Inc., is stepping down from the Board, a position he has held since
December 2003, due to other growing
commitments both at Safeguard and in his new role with another
public company board.
"The Board and the management team are grateful to Steve for his
many contributions during his nearly 12 years on the board," said
Mr. Hagan. "As a company, we have benefited from his expertise in
strategic management, leading the Audit Committee and his
dedication to best corporate governance practices. As a Board, we
have enjoyed Steve's insights, his acumen and his tremendous
counsel. He will be missed."
"I have had the privilege of being a member of Nutrisystem's
board and working with such strong fellow directors and management
personnel," said Mr. Zarrilli. "While leaving is always hard, I
know that the Company is again operating from a position of
significant market strength with a very strong leadership team. I
believe this transition of board responsibility will only further
strengthen the governance and strategic development of
Nutrisystem."
About Nutrisystem, Inc.
Nutrisystem, Inc.
(NASDAQ: NTRI) is a leader in the weight loss industry, having
helped millions of people lose weight over the course of more than
40 years. The Company's weight loss solutions include
Nutrisystem® My Way®, a 28-day structured food delivery
program, multi-day kits available at select retail outlets and a
new free app and digital platform NuMi® by
Nutrisystem. The Company's current product line offers
customers the most meal choices, including more than 100 foods
containing no artificial preservatives or artificial flavors.
Nutrisystem® plans are consistent with national guidelines for
dietary intake meeting targets for fat, sodium, sugar, cholesterol,
fiber and physical activity and include comprehensive counseling
options from trained weight-loss coaches, registered dietitians and
certified diabetes educators. Plans can be customized to specific
dietary needs and preferences including the Nutrisystem® D®
program for people with Type 2 diabetes or pre-diabetes. For more
information, go to NutrisystemNews.com.
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SOURCE Nutrisystem, Inc.