Mike Monahan Joins Nutrisystem as Chief Financial Officer
April 25 2013 - 8:00AM
Business Wire
Today Nutrisystem (NASDAQ: NTRI), a leader in weight loss with
more than 40 years of proven effectiveness, announced that Michael
P. Monahan will join the company as Chief Financial Officer
effective May 22, 2013.
Since 2009 Mr. Monahan has served as Chief Financial Officer of
PetroChoice Holdings, Inc., a privately-held distributor of
industrial, commercial, and passenger car lubricants. During his
tenure, he was a key member of the management team that achieved
substantial growth and increased value for the shareholders. His
appointment as Nutrisystem’s CFO represents a return to the company
for Mr. Monahan, who served as Nutrisystem’s Vice President of
Finance from 2006 to 2009 prior to joining PetroChoice. He is a
seasoned financial professional with significant experience in
financial planning and analysis, treasury, corporate accounting,
strategy and business development, and investor relations.
Dawn Zier, President and Chief Executive Officer of Nutrisystem,
said, “We are pleased that Mike has re-joined the company as Chief
Financial Officer. He was universally respected during his previous
tenure with the company and is a natural fit for us. He knows our
business and saw firsthand the innovation and direct consumer
response discipline that propelled the company during our growth
phase. His perspective and financial expertise will be invaluable
as we work to execute our turnaround plan.”
Mike added, “This is a great time to join Nutrisystem, as Dawn
and her team are executing a cohesive turnaround plan that I
believe will add significant shareholder value. I look forward to
meeting Nutrisystem’s investors and analysts, and keeping them
apprised of our progress as we work to restore financial
performance.”
Mr. Monahan started his career at Arthur Andersen LLP, working
on both the audit and consulting side of the business, later
joining Accenture in the finance and performance management
practice. Following that, he worked at Exelon Corporation leading a
divisional financial planning and analysis team prior to joining
Nutrisystem in April 2006. He holds a Bachelor of Arts degree from
Villanova University and a Master of Business Administration from
The University of Chicago’s Booth School of Business.
About Nutrisystem, Inc.
Having helped Americans lose millions of pounds for over 40
years, Nutrisystem, Inc. (NASDAQ: NTRI) develops evidence-based
programs for healthy weight management, and is the leading provider
of home-delivered weight loss meal plans. Nutrisystem offers
balanced nutrition in the form of low glycemic index meal plans
designed for men and women, including seniors, vegetarians and the
Nutrisystem® D® program for people with diabetes or at risk for
type 2 diabetes. Nutrisystem® plans include a wide variety of
pantry and frozen entrees and snacks to aid in program satisfaction
and adherence, as well as transition plans to support long-term
success. The Fort Washington, PA-based company also provides weight
management support and counseling by trained weight-loss coaches
and registered dietitians, as well as through an engaged online
community, online tools and trackers, mobile apps, cookbooks and
more. Healthcare professionals may learn more about the programs by
visiting www.nutrisystem.com/hcp. Nutrisystem® weight loss plans
are available directly to consumers through www.nutrisystem.com, by
phone (1-800-435-4074) and at select retailers.
Forward-Looking Statement Disclaimer
Information provided and statements contained in this press
release that are not purely historical, such as details about the
company’s management changes and future prospects, are
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, Section 21E of the Securities Exchange Act
of 1934 and the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements only speak as of the date of this
press release and the Company assumes no obligation to update the
information included in this press release. Statements made in this
press release that are forward-looking in nature may involve risks
and uncertainties. Accordingly, readers are cautioned that any such
forward-looking statements are not guarantees and are subject to
certain risks, uncertainties and assumptions that are difficult to
predict, including, without limitation, specific factors discussed
herein and in other releases and public filings made by the Company
(including filings by the Company with the Securities and Exchange
Commission). Although the Company believes that the expectations
reflected in such forward-looking statements are reasonable as of
the date made, expectations may prove to have been materially
different from the results expressed or implied by such
forward-looking statements. Unless otherwise required by law, the
Company also disclaims any obligation to update its view of any
such risks or uncertainties or to announce publicly the result of
any revisions to the forward-looking statements made in this press
release.
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