NASHVILLE, Tenn., April 6, 2020 /PRNewswire/ -- Tivity
Health® (Nasdaq: TVTY), a leading provider of nutrition,
fitness and social engagement solutions, today announced that its
Board of Directors unanimously elected Tivity Health Director
Anthony M. Sanfilippo as Chairman of
the Board, effective April 2, 2020.
Sanfilippo succeeds Chairman Kevin G.
Wills, who remains on the Board as an independent director
through the Company's 2020 Annual Meeting of Shareholders in
May.
Robert J. Greczyn, Jr., Interim
Chief Executive Officer and Board member of Tivity Health, said,
"We thank Kevin for his tremendous Board leadership and valuable
contributions over the last eight years. As we look to the future,
we are confident that Anthony's board and leadership experience —
including as the former CEO of two highly successful public
companies focused on hospitality and customer experience — will be
invaluable as we position the Company for future success and
complete our ongoing CEO search. We believe our Board and
management team will benefit from Anthony's unique perspective,
judgment and counsel. Our Company is focused on driving
profitable growth across the business and providing the highest
quality solutions to our customers and members."
Sanfilippo joined Tivity Health as a director in mid-March,
2020. He is a member of the Board of Directors of Papa John's
International, and previously served as the Chairman of the Board
and Chief Executive Officer for Pinnacle Entertainment Inc., a
publicly traded gaming and hospitality company. As CEO of Pinnacle
Entertainment, Sanfilippo led the growth of the company over an
eight-year period with an improvement in operating margins of over
1,200 basis points from the mid-teens to more than 28%. Investors
who held shares of Pinnacle Entertainment during that period
realized value appreciation in excess of six times, or a CAGR of
approximately 27%. Sanfilippo led Pinnacle's $4.75 billion sale of its real estate assets to a
publicly traded real estate investment trust in 2016, as well as
the sale of the remaining assets to a publicly traded gaming
company for $2.8 billion in 2018.
Prior to joining Pinnacle, Sanfilippo served as President, Chief
Executive Officer and board member of Multimedia Games Inc., a
publicly traded creator and supplier of comprehensive technology
systems, content and electronic gaming devices for various segments
of the gaming industry. Most recently, he co-founded Sorelle
Capital, Sorelle Entertainment and Sorelle Hospitality, a series of
firms focused on investing in and helping grow companies with
entrepreneurs in hospitality sectors and related real estate
ventures.
"It is an honor to be appointed Chairman of the Board of Tivity
Health," said Sanfilippo. "Tivity Health has a dedicated team of
management with an engaged board of directors who are focused on
delivering value to all stakeholders of the Company. I look
forward to working alongside Bob, the rest of my fellow directors
and the management team to continue thoughtfully growing by
advancing our mission of empowering adults of every age to live
healthier, better lives."
Wills is stepping down to commit more time to his role as Chief
Financial Officer of Pilot Company. Tivity Health also announced
the Company's current directors, Paul H.
Keckley, Ph.D. and Lee A.
Shapiro, will depart the Board upon expiration of their
current terms at the Company's 2020 Annual Meeting of Shareholders.
With these departures and subject to the voting results of the
Company's shareholders, the Board will consist of nine members
following its 2020 meeting, including: Sara
J. Finley; Robert J. Greczyn,
Jr.; Peter A. Hudson, M.D.;
Beth M. Jacob; Bradley S. Karro; Benjamin A. Kirshner; Erin L. Russell; Daniel
G. Tully; and Anthony M.
Sanfilippo (Chairman). Six of the directors will have joined
the Board within the last two years.
About Tivity Health, Inc.
Tivity Health® (Nasdaq: TVTY) is a leading provider
of healthy life-changing solutions, including
SilverSneakers®, Nutrisystem®,
Prime® Fitness, Wisely Well™, South Beach
Diet® and WholeHealth Living®. We are
actively addressing the social determinants of health, defined as
the conditions in which we work, live and play. From improving
health outcomes to reversing the narrative on inactivity, food
insecurity, social isolation and loneliness, we are making a
difference and are transforming the way we do health. Learn more at
TivityHealth.com
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SOURCE Tivity Health, Inc.