OWINGS MILLS, Md., April 30, 2015 /PRNewswire/ -- Medifast,
Inc. (NYSE: MED), a leading United
States manufacturer and provider of clinically proven
weight-loss and healthy living products and programs, has agreed to
nominate Scott Schlackman and
Connie Hallquist as new, independent
director candidates to stand for election at the Company's 2015
Annual Meeting of Stockholders. These nominations are pursuant to
the Cooperation Agreement entered into between the Company and
Engaged Capital and represent the final nominations for the nine
member Board of Directors.
Scott Schlackman has a proven
track record of executive experience in driving sales and profit in
both developed and developing markets in the direct selling
business. For a period of nearly 30 years, Schlackman served in a
variety of senior executive roles with Avon Products, Inc. (NYSE:
AVP) ("Avon"), a global manufacturer and marketer of beauty and
related products. In the past decade alone, Schlackman held the
following executive positions with Avon: President - UK &
Ireland; Regional Vice President -
Global Sales Development (WEMEA and Asia
Pacific); President - Continental Europe; President -
Canada; and President -
France and Belgium. While at Avon, Schlackman also
successfully launched Avon Wellness, Avon's first ever endeavor in
the wellness category. He also previously served as a director of
each of the United Kingdom Direct Sellers Association, the Canadian
Direct Sellers Association and the French Direct Sellers
Association. Schlackman graduated from The Wharton School of
the University of Pennsylvania with a
B.S. in Economics.
Connie Hallquist is President of
Healthy Directions, a Helen of Troy company (NASDAQ: HELE). She
joined Healthy Directions, LLC in 2010 as Executive Vice President,
Merchandising and New Product Development, and in 2012 became
President and CEO. Previously, she served as President, New
Business Ventures, for Orchard Brands, a $1
billion catalog holding company. In 2007, Orchard Brands
acquired the company that Hallquist founded in 2000, Gold Violin, a
multi-channel retailer offering helpful products for independent
living. Prior to Gold Violin, Hallquist held the position of
Managing Director at Prophet, a brand strategy consulting firm,
where she oversaw the firm's flagship clients including
Williams-Sonoma, Audi, UBS, and Levi Strauss & Co. Prior to
consulting, Hallquist worked in brand management at Kraft Foods.
She holds a BS in French Language & Literature from the
University of Virginia and a MBA degree
from the Darden School at the University of
Virginia.
"We are very pleased to nominate Scott and Connie for election
to the Medifast Board of Directors," said Michael MacDonald, Medifast Chairman & Chief
Executive Officer. "They bring unique skill sets and
experiences that will help our Company achieve the strategic
objectives we have set. With Scott's background in direct selling
and Connie's expertise in direct response marketing, they will help
us advance our goals to grow and simplify Take Shape For Life and
optimize Medifast Direct."
"We are pleased to have worked with Medifast to identify two
high caliber, independent directors with relevant experience to
help Medifast accelerate its growth in the direct selling
business." said Glenn Welling,
Founder and Chief Investment Officer of Engaged Capital. "Scott's
decades of direct selling experience on a global basis and Connie's
strong marketing and brand development expertise will be strong
complements to the Medifast Board of Directors. With these
additional directors, the Medifast Board completes its
reconstitution and we will now have 5 new and 4 incumbent directors
working to position Medifast to create significant value for
shareholders."
MED-G
About Medifast
Medifast (NYSE: MED) is the leading
easy-to-use, clinically proven, weight-loss program. The company
sells its products and programs via four unique distribution
channels: 1) the web and national call centers, 2) the Take Shape
For Life personal coaching division, 3) Medifast Weight Control
Centers, and 4) a national network of physicians. Medifast was
founded in 1980 and is located in Owings
Mills, Maryland. For more information, log onto
www.MedifastNow.com.
Forward Looking Statements
Please Note: 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 generally can be identified by use
of phrases or terminology such as "intend" or other similar words
or the negative of such terminology. Similarly, descriptions of
Medifast's objectives, strategies, plans, goals or targets
contained herein are also considered forward-looking statements.
Medifast believes this release should be read in conjunction with
all of its filings with the United States Securities and Exchange
Commission and cautions its readers that these forward-looking
statements are subject to certain events, risks, uncertainties, and
other factors. Some of these factors include, among others,
Medifast's inability to attract and retain independent Health
Coaches and Members, stability in the pricing of print, TV and
Direct Mail marketing initiatives affecting the cost to acquire
customers, increases in competition, litigation, regulatory
changes, and its planned growth into new domestic and international
markets and new channels of distribution. Although Medifast
believes that the expectations, statements, and assumptions
reflected in these forward- looking statements are reasonable, it
cautions readers to always consider all of the risk factors and any
other cautionary statements carefully in evaluating each
forward-looking statement in this release, as well as those set
forth in its latest Annual Report on Form 10-K and Quarterly Report
on Form 10-Q, and other filings filed with the United States
Securities and Exchange Commission, including its current reports
on Form 8-K. All of the forward-looking statements contained herein
speak only as of the date of this release.
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SOURCE Medifast, Inc.