Oct. 3, 2016 – Medifast announced that Daniel (“Dan”) R. Chard has been appointed as Chief Executive Officer and as a member of Medifast’s Board of Directors, bringing the size of the board to 10 members. Mr. Chard succeeds Michael MacDonald, who will stay with Medifast in the role of Executive Chairman of the Board.
The company also announced that it expects to meet or exceed 3rd quarter guidance for revenue from continuing operations in the range of approximately $64.0 million to $67.0 million and earnings per diluted share from continuing operations in the range of $0.43 to $0.46 per diluted share.
“This is a time of exciting transition for Medifast as we further enhance the strength of our executive team with the appointment of Dan as CEO. We are fortunate to gain a seasoned executive in Dan, who possesses extensive direct selling industry experience growing Nu Skin Enterprises, Inc. as well as at PartyLite, an affiliate of a portfolio company of The Carlyle Group.
Mr. Chard joins Medifast with over 25 years of direct selling and consumer products experience. Most recently, he served as President & Chief Operating Officer of PartyLite, an affiliate of a portfolio company of The Carlyle Group. Over his 17 year tenure at Nu Skin Enterprises, Inc. (“Nu Skin”), Mr. Chard held various leadership roles, including Executive Vice President of Distributor Success and then President, Global Sales & Operations from 2006 to 2015. He served as President of Nu Skin Europe from 2004 to 2006 and in many other roles of increasing responsibility since he joined the company in 1998. Prior to Nu Skin, Mr. Chard held marketing leadership roles at PUR Recovery Engineering and The Pillsbury Company. He holds a Bachelor of Arts in Economics from Brigham Young University and received his Masters of Business Administration from the University of Minnesota.
The complete press release can be found here:
http://www.bizjournals.com/baltimore/prnewswire/press_releases/Maryland/2016/10/03/PH07774