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Medifast Inc (MED.N)

MED.N on New York Stock Exchange

207.13USD
23 Oct 2018
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Summary

Name Age Since Current Position

Michael MacDonald

65 2018 Non-Executive Independent Chairman of the Board

Daniel Chard

53 2016 Chief Executive Officer, Director

Timothy Robinson

55 2018 Chief Financial Officer, IR Contact Officer

Jason Groves

47 2015 Executive Vice President, General Counsel, Secretary

Bill Baker

46 2016 Executive Vice President, Information Technology

Joseph Kelleman

63 2014 Vice President - Finance, Corporate Controller

Jeffrey Brown

57 2015 Lead Independent Director

Kevin Byrnes

70 2013 Independent Director

Constance Hallquist

54 2015 Independent Director

Carl Sassano

68 2013 Independent Director

Scott Schlackman

60 2015 Independent Director

Biographies

Name Description

Michael MacDonald

Mr. Michael Charles MacDonald is Non-Executive Independent Chairman of the Board of the Company, effective January 2018.Mr. MacDonald previously served as Executive Chairman of the Board from November 2011 until December 2017. He was promoted to Chairman and Chief Executive Officer in February 2012. He was Chairman of the Board, Chief Executive Officer of the company. Prior to joining this role, Mr. MacDonald was Executive Vice President of OfficeMax, overseeing the Contract Division, a $3.6 billion division of the OfficeMax Company. Mr. MacDonald has spent an additional 33 years in sales, marketing, and general management at Xerox Corporation. Among his most significant roles was leading the turnaround in North America from the years 2000-2004 as President of the North American Solutions Group, a $6.5 billion division of Xerox. In addition, Mr. MacDonald was President of Global Accounts and Marketing from 2004-2007, where he led the re-branding of the Xerox Corporation. Mr. MacDonald also has international experience in marketing, sales, and operations with both Xerox and OfficeMax. Mr. MacDonald received his Bachelor of Arts, Political Science at Rutgers University, earned 44 MBA Credits at Iona College, and attended premier executive education courses in leadership and management at Harvard and Columbia Universities.

Daniel Chard

Mr. Daniel R. Chard serves as Chief Executive Officer, Director of the Company. 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. Mr. Chard holds a Bachelor of Arts in Economics from Brigham Young University and received his Masters of Business Administration from the University of Minnesota.

Timothy Robinson

Mr. Timothy (Tim) G. Robinson, CPA, serves as Chief Financial Officer of Medifast, Inc. Prior to joining the Company, Mr. Robinson was Vice President, Business Operations for Canon Business Solutions, Inc. from 2008 to 2013, where he served as a key member of the executive team for this national office products subsidiary of Canon U.S.A. From 1995 to 2008, Mr. Robinson was Vice President, Finance & Administration for Canon Business Solutions-East, Inc. Mr. Robinson was Controller of Dupli-Fax, Inc. from 1989 to 1995 and was a Senior Emerging Business Consultant for Deloitte & Touche from 1985 to 1989. Mr. Robinson received his Bachelor of Science degree in accounting from Villanova University.

Jason Groves

Mr. Jason L. Groves, Esq., serves as Executive Vice President, General Counsel, Secretary of the Company. He was Executive Vice President, General Counsel, Director of Medifast, Inc. Prior to joining Medifast in November 2011, Mr. Groves served as Assistant Vice President of Government Affairs for Verizon Maryland, since 2003. Mr. Groves is also an Army veteran. He was a direct commissioned Judge Advocate in the United States Army Judge Advocate General’s Corp (“JAG”). As a JAG Officer, he practiced law and had the distinction of prosecuting criminal cases in the District Court of Maryland as a Special Assistant United States Attorney. Over the course of three years, he received two Army Achievement Medals, and one Army Commendation Medal. Mr. Groves also sits on several non-profit boards including Anne Arundel Medical Center and the Maryland Hospital Association. Mr. Groves received his Bachelor of Science degree, cum laude, in Business with a concentration in Hospitality Management, from Bethune-Cookman University. He also obtained his juris doctorate from North Carolina Central University School of Law and is a member of the New Jersey and District of Columbia bars as well as several bar associations.

Bill Baker

Mr. Bill Baker, is Company’s Executive Vice President, Information Technology of the company, since August 2016. Prior to joining the Company, Mr. Baker was the Chief Information Officer for Tricore, from 2013 to 2016, where he served as a key member of the executive team and Chief Executive Officer of their Software subsidiary. From 2010 to 2013, Mr. Baker was Vice President, Information Technology for Rodan and Fields. From 2007 to 2010 Mr. Baker was the Chief Information Officer for Arbonne International. Mr. Baker received his Bachelor of Science degree in Computer Information Systems from David Lipscomb University.

Joseph Kelleman

Mr. Joseph P. Kelleman serves as Vice President of Finance, Corporate Controller of Medifast, Inc.. Mr. Kelleman joined Medifast as Director of Finance – Supply Chain in February 2012 with over 30 years of experience in finance at Stanley Black & Decker, Inc. Prior to joining Medifast, Mr. Kelleman was the Global Operations Controller – CDIY Business at Stanley Black & Decker, Inc. from 2010 to 2012. From 2009 through 2010, Mr. Kelleman held the position of Director of Finance – Asian Operations having financial oversight for all Power Tool manufacturing in Asia and the global sourcing operations for the Company. From 2001 to 2009, Mr. Kelleman held the position of Director of Finance for the North American Power Tool Commercial Operations of Black & Decker and prior to that role held numerous positions of increasing responsibility over his career within the company. Mr.Kelleman received his BS in accounting from Mount St. Mary’s University.

Jeffrey Brown

Mr. Jeffrey J. Brown serves as Lead Independent Director of the company, since June 17, 2015. Mr. Brown is the Chief Executive Officer and founding member of Brown Equity Partners, LLC (“BEP”), which provides capital to management teams and companies needing equity capital. Prior to founding BEP in 2007, Mr. Brown served as a founding partner and primary deal originator of the venture capital and private equity firm Forrest Binkley & Brown (“FBB”) from 1993 to 2007. In his 30 years in the investment business, Mr. Brown served on over 40 boards of directors including service on seven public company boards. Mr. Brown has served as a director of Outerwall, Inc. (NASDAQ: OUTR), a Company that delivers automated retail spaces, since August 2016, and as a director of RCS Capital Corporation (now known as Aretec Group, Inc. (“Aretec”), since February 2014. On January 31, 2016, Aretec and certain of its subsidiaries filed a voluntary petition for reorganization in the United States Bankruptcy Court for the District of Delaware (Case No. 16-10223), seeking relief under Chapter 11 of Title 11 of the United States Code. Aretec emerged from bankruptcy in May 2016. From 2011 until 2015, Mr. Brown served as a director of Midatech Pharma PLC (LSE: MTPH). From 2014 until 2016, Mr. Brown served as a director of Nordion, Inc. (NYSE: NDZ). From 2009 until 2011, Mr. Brown served as a director of Steadfast Income REIT, Inc. Mr. Brown has worked at Hughes Aircraft Company, Morgan Stanley & Company, Security Pacific Capital Corporation and Bank of America Corporation. Mr. Brown received his MBA from the Stanford University Graduate School of Business and graduated Summa Cum Laude as a Mathematics Major from Willamette University.

Kevin Byrnes

Mr. Kevin G. Byrnes serves as Independent Director of Medifast, Inc. since May 23, 2013. Mr. Byrnes serves as Chairman for the Special Mergers & Acquisitions Committee and as a member of the Audit Committee. Mr. Byrnes has more than 40 years of financial experience working in the retail and commercial banking industries. He is currently Chairman of the Board of Bay Bank, with assets of approximately $500 million and 12 branches located in the Baltimore metropolitan area. Mr. Byrnes served as President/COO and Director of Provident Bank from 2002 to 2009. Provident, acquired by M&T Bank in May 2009, was the largest independent financial institution in the Maryland and Northern Virginia marketplaces at that time, with $6.5 billion in assets, 150 branches and 1,600 employees. Prior to Provident Bank, Mr. Byrnes spent 25 years with the Chase Manhattan Bank in various executive management positions. Mr. Byrnes began his career at Bankers Trust Co. in New York. He received a BBA from Pace University. Mr. Byrnes was selected based on his extensive financial experience given his long career in the banking industry. Because of his public-company experience and significant prior board experience, Mr. Byrnes is serving on the Company’s Audit Committee and Chairs the Special Mergers & Acquisitions Committee.

Constance Hallquist

Ms. Constance J. Hallquist is Independent Director of the company. Ms. Hallquist serves as Chairman of the Nominating/Corporate Governance Committee. Ms. Hallquist is President and Chief Executive Officer of DNA Diagnostics Center (DDC), one of the largest private DNA testing companies in the world, providing comprehensive DNA testing for paternity and family relationships, forensics, genetic traits of animals, cell line authentication, and ancestry. From 2012 to 2016, Ms. Hallquist was President of Healthy Directions, a Helen of Troy company (NASDAQ: HELE). From 2009 to 2010, she served as President of New Business Ventures, for Orchard Brands, a $1 billion catalog holding company, which in 2007 acquired Gold Violin, a multi-channel retailer providing helpful products for independent living that Ms. Hallquist founded in 2000. Prior to Gold Violin, Ms. Hallquist held the position of Managing Director at Prophet, a brand strategy consulting firm, from 1995 to 1999, where she oversaw the firm’s flagship clients including Williams-Sonoma, Audi, UBS, and Levi Strauss & Co. Prior to consulting, Ms. Hallquist worked in brand management at Kraft Foods, from 1991 to 1992. Ms. Hallquist received a BA in French Language & Literature from the University of Virginia and an MBA degree from the Darden School at the University of Virginia.

Carl Sassano

Mr. Carl E. Sassano serves as Independent Director of Medifast, Inc. since July 22, 2013. He is a member of the board of Transcat, Inc. and the Lead Director. Mr. Sassano was Chairman of the Board of Transcat from October 2003 until July, 2013. From April 2007 to May 2008, he also served as executive chairman of the board. Mr. Sassano became President and Chief Executive Officer in March 2002 and was named Chairman of the board in October 2003. In May 2006, he ceased serving as president when Charles P. Hadeed assumed that position. He ceased serving as CEO in April, 2007. Mr. Sassano was president and chief operating officer of Bausch & Lomb Incorporated in 1999 and 2000. He also held positions in Bausch & Lomb as president-global vision care (1996-1999), president-contact lens division (1994-1996), group president (1993-1994) and president-Polymer Technology (1983-1992), a subsidiary of Bausch & Lomb. Mr. Sassano is a partner in CSW Equity Partners, a small private equity investment company. He also serves as Chairman of the board of Voiceport, one of the companies in the CSW portfolio. He received a BA from Rochester Institute of Technology and an MBA from the University of Rochester. Mr. Sassano brings to the Board leadership skills and significant public corporate experience from both small companies (Transcat) and large corporations (Bausch & Lomb). He also bring a strong understanding of the issues organizations face in executing a growth strategy.

Scott Schlackman

Mr. Scott D. Schlackman serves as Independent Director of the company. Mr. Schlackman is President of Scott Schlackman Global Consulting, LLC. From 2011 to 2013 he was President of Avon UK and Vice President of Liz Earle Products, which Avon acquired in March 2010, for the United Kingdom and Ireland. He was Regional Vice President for Global Sales Development WEMEA and Asia Pacific Regions for Avon in 2010. In his 24 years with Avon, Mr. Schlackman served in a variety of senior executive roles with Avon Products, Inc., a global manufacturer and marketer of beauty and related products. Mr. Schlackman receivexd a BS from the Wharton School of the University of Pennsylvania.

Basic Compensation

Name Fiscal Year Total

Michael MacDonald

1,734,890

Daniel Chard

1,622,200

Timothy Robinson

1,455,280

Jason Groves

958,214

Bill Baker

--

Joseph Kelleman

221,421

Jeffrey Brown

135,129

Kevin Byrnes

120,145

Constance Hallquist

120,145

Carl Sassano

122,917

Scott Schlackman

118,042
As Of  31 Dec 2017