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Medifast, Inc. Announces Appointment Of New Chief Financial Officer

Stocks in this article: MED

OWINGS MILLS, Md., Jan. 7, 2013 /PRNewswire/ -- Medifast, Inc. (NYSE: MED), a leading United States manufacturer and provider of clinically proven, portion-controlled weight-loss products and programs, today announced the appointment of Timothy G. Robinson as Chief Financial Officer, effective February 1, 2013. Mr. Robinson will replace Joseph Kelleman who has been serving as the Company's Chief Financial Officer on an interim basis since December 2012. Mr. Kelleman will continue in his role as Director of Finance - Supply Chain.

(Logo: http://photos.prnewswire.com/prnh/20120613/NE24271LOGO-b )

Mr. Robinson brings over 25 years of diverse management experience in finance, accounting, and business operations.  Most recently, he held the position of Vice President, Business Operations for Canon Business Solutions, Inc. from 2008 – 2013, where he served as a key member of the executive team for this over $1 billion national office products subsidiary of Canon U.S.A. While in this role, Mr. Robinson led a 450 person organization, managed several business acquisitions that strengthened the Company's U.S. presence, and was an executive member of the integration team that formed the over $1 billion Canon Solutions America, Inc. business.  From 1995 to 2008, Mr. Robinson was Vice President, Finance & Administration for Canon Business Solutions-East, Inc. where he directed all financial and administrative functions including accounting, budgeting, financial reporting and analysis, credit and collections, IT, logistics, customer service, contracts administration, general affairs and real estate operations for the Eastern regions of the U.S.

"We are excited to have Tim join Medifast given his significant financial and accounting experience and believe his ability to develop and implement new financial processes and systems will create the financial platform needed to support our future growth initiatives," commented Mr. Michael C. MacDonald, Medifast's Chairman and Chief Executive Officer.

"I am extremely excited to join Medifast given its industry leading position and strong long-term growth potential," stated Mr. Robinson. "I look forward to working with the Medifast team to drive future growth and profitability and further position the Company as a leading manufacturer and provider of weight-loss products and programs."

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