BALTIMORE, July 20, 2020 /PRNewswire/ -- Medifast, Inc.
(NYSE: MED), the company behind one of the fastest-growing health
and wellness communities, OPTAVIA®, today
announced that it has appointed James (Jim)
Maloney as Chief Financial Officer, effective July 20, 2020. In his role, Mr. Maloney will be
responsible for leading the finance function including all aspects
of financial planning and analysis, setting Medifast's financial
and capital allocation strategies, and managing investor relations.
He will serve as a member of the company's leadership team and
report directly to Chief Executive Officer Dan Chard.
"We are pleased to welcome Jim to the Medifast team as we
continue on our mission to offer the world lifelong transformation,
one healthy habit at a time," said Chard. "Jim brings deep public
company experience, a strong focus on capital allocation and an
ability to manage the finance function of a fast-growing, dynamic
and complex business. He has been responsible for managing large
operations for global companies to support business objectives and
growth. He also has a history of building value, which will be
important as we aim to deliver long-term sustainable growth through
our differentiated approach to health and wellness."
"I am thrilled to join the team at Medifast. The company's
unique business model, collaborative culture and OPTAVIA's
robust and inspiring community provides the opportunity to drive
significant value for stockholders," said Maloney.
Mr. Maloney most recently served as Senior Vice President Chief
Financial Officer of L.B. Foster Company, a publicly held global
manufacturer and distributor of products and services for
transportation and energy infrastructure. Prior to L.B.
Foster Company, he served as Chief Financial Officer of First
Insight, Inc., a privately held company providing consumer data to
leading retailers and brands, where he continues to serve as a
Board Advisor. Before joining First Insight, Mr. Maloney held roles
at the H.J. Heinz Company ("Heinz"), including Vice President of
Global Financial Planning and Supply Chain Finance, Director of
Finance for Supply Chain for Heinz North
America, and Controller of Heinz
North America. He also held multiple roles in the U.S.
and Europe at Ernst & Young
LLP, including Senior Manager of the Assurance Practice. Mr.
Maloney holds a Bachelor of Science degree from Clarion University and a Master of Business
Administration degree from the University of
Pittsburgh and is a Certified Public Accountant.
About Medifast:
Medifast (NYSE:
MED) is the company behind one of the fastest-growing health
and wellness communities, OPTAVIA®, which offers
Lifelong Transformation, One Healthy Habit at a Time®. Based on
nearly 40 years of experience, Medifast has redefined direct
selling by combining the best aspects of the model. Its community
of thousands of independent OPTAVIA Coaches teach
Clients to develop holistic healthy habits through products and
clinically proven plans, the Habits of Health® Transformational
System and comprehensive support from a community of like-minded
people. In 2019, Medifast expanded the OPTAVIA movement
globally, beginning with the Asia-Pacific region.
Medifast is traded on the New York Stock Exchange and was named
to Fortune's 100 Fastest-Growing Companies list in
2019 and Forbes' 100 Most Trustworthy Companies in
America list in 2016 and 2017. For more information,
visit www.MedifastInc.com or www.OPTAVIA.com.
Forward Looking Statements
This release contains
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. These
"forward-looking" statements are based on present circumstances and
on Medifast's predictions with respect to events that have not
occurred, that may not occur, or that may occur with different
consequences and timing than those now assumed or
anticipated. Such forward-looking statements, including any
statement of the plans and objectives of management for future
operations and forecasts of future growth and value, are not
guarantees of future performance or results and involve risks and
uncertainties that could cause actual events or results to differ
materially from the events or results described in the
forward-looking statements. Such forward-looking statements
are made only as of the date of this release and Medifast assumes
no obligation to update forward-looking statements to reflect
subsequent events or circumstances. Readers should not place
undue reliance on these forward-looking statements.
MED-F
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SOURCE Medifast, Inc.