This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Medifast, Inc. Announces Executive Management Change

OWINGS MILLS, Md., Nov. 13, 2012 /PRNewswire/ -- Medifast, Inc. (NYSE: MED), a leading United States manufacturer and provider of clinically proven, portion-controlled weight-loss products and programs, today announced that the Company's Chief Financial Officer, Brendan Connors, will resign to pursue other interests, effective immediately.  Chairman and Chief Executive Officer, Michael C. MacDonald has named Edward J. Powers, as interim Chief Financial Officer.

(Logo: )

"On behalf of our employees and the Board we would like to thank Brendan for his contributions to the growth of Medifast over the last seven years," commented Mr. MacDonald. "He is leaving Medifast with a strong balance sheet and a robust Finance team focused on optimizing our overall cost structure to further leverage our sales momentum, improve our margins and deliver increased earnings results, while continuing to focus on enhancing the customer experience in each of our sales channels - Take Shape for Life, Medifast Direct, and Medifast Weight Control Center and Wholesale Physicians. We wish him the best of luck in his future endeavors."

Mr. Powers joined Medifast as Senior Controller in 2011 with over 30 years of finance and accounting experience. Most recently, Mr. Powers was Global Controller, Construction Group at Stanley Black & Decker, Inc. (NYSE: SWK) from 2010 to 2011. While at Stanley Black & Decker, Inc. Mr. Powers also was Director of Finance, Global Product Development from 2009 to 2010 and Director of Finance, Business Planning and Analysis, Industrial Products Group from 2006 to 2009. Prior to joining Stanley Black & Decker, Inc. Mr. Powers has held various roles at DeWalt including Director of Finance, Marketing Division from 2000 to 2005, Director of Finance, Business Development from 2000 to 2005, Director of Finance, Latin American Group from 1998 to 1999 and Assistant Corporate Controller from 1993 to 1998. Mr. Powers also worked for the international accounting firm Coopers & Lybrand for 13 years.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.06 -0.60%
FB $118.27 0.18%
GOOG $699.23 0.51%
TSLA $214.92 -3.40%
YHOO $37.02 2.80%


Chart of I:DJI
DOW 17,691.78 +40.52 0.23%
S&P 500 2,056.24 +5.12 0.25%
NASDAQ 4,736.6340 +10.9950 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs