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Medifast Adds Seasoned Talent To Executive Team

Stocks in this article: MED

OWINGS MILLS, Md., Sept. 26, 2012 /PRNewswire/ -- Michael C. MacDonald, Chairman of the Board and Chief Executive Officer of Medifast, Inc. (NYSE: MED), a leading United States manufacturer and provider of clinically proven, portion-controlled weight-loss products and programs, today announced executive additions within the organization. The Company has expanded the role of Brian Kagen, while adding Dominick Vietri and Brian Lloyd to the Executive Team. All three will report to Margaret Sheetz, President and Chief Operating Officer, Medifast, Inc.

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"As we scale the Medifast business for the next level of growth, it is vital to put an experienced executive team in place," said MacDonald. "With Brian Kagen, Dominick Vietri and Brian Lloyd, we have seasoned executives with the skills and foresight necessary to build the infrastructure, operations and marketing capabilities to advance Medifast's U.S. and international business and brands while also opening new opportunities."

Brian Kagen has been named Executive Vice President and Chief Marketing Officer. In his expanded role, Kagen will preside over all marketing functions of the business, which include the brand, channel and product marketing, as well as customer service and nutrition support. Since joining the company in June of 2011, after 14 years at Black & Decker, Kagen has led the refinement of Medifast's brand positioning, while also establishing marketing synergies among each of the Company's sales channels.

Dominick Vietri has been named Executive Vice President of Medifast Weight Control Centers. Vietri is a seasoned executive with over 40 years of experience across mature organizations as well as start-ups, in market segmentation, creating business alliances, corporate real estate acquisition and focusing companies as solution providers. Prior to joining Medifast, he served in senior roles at AT&T Wireless and Xerox Corporation. In this position, Vietri oversees operations and growth of the Medifast Weight Control Centers division of Medifast, Inc. This includes expansion of the brick-and-mortar locations, franchise operations as well as improving in-store technology to optimize operations. 

Brian Lloyd has been named Executive Vice President of Strategy and Business Development. In his role, Lloyd will be responsible for implementing the company strategy and management processes, as well as international expansion of the Medifast brand. Lloyd will oversee Medifast's current expansion into Mexico, as well as pursuing distribution partnerships in new international markets. Lloyd joins the company after fourteen years at Xerox Corporation, the last three serving as Vice President of Business Development.

"Kagen, Vietri and Lloyd are dynamic leaders that bring the strategic background necessary to lead Medifast into the future," said Sheetz. "I look forward to working closely with all three as we continue to build internal infrastructure and bring the brand to a place where Medifast is the leader in the industry."

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