OWINGS MILLS, Md., May 23, 2013 /PRNewswire/ -- Medifast, Inc.
(NYSE: MED), a leading United
States manufacturer and provider of clinically proven
portion-controlled weight-loss products and programs, announced
today the appointment of Kevin G.
Byrnes to its Board of Directors and the Company's Audit
Committee, effective immediately.
(Logo: http://photos.prnewswire.com/prnh/20120613/NE24271LOGO-b
)
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.
"We are pleased to announce the appointment of Kevin to our
Board and believe he brings significant financial experience given
his extensive career in the banking industry," commented
Michael C. MacDonald, Medifast's
Chairman and Chief Executive Officer. "We look forward to his
contributions and perspective as we continue to focus on sales and
profitability growth across our multi-channel business model with
Take Shape for Life, Medifast Direct, Medifast Weight Control
Centers, and Wholesale Physicians."
About Medifast
Medifast (NYSE: MED) is the leading easy-to-use, clinically
proven, portion-controlled weight-loss program. The company sells
its products and programs via four unique distribution channels: 1)
the web and national call centers, 2) the Take Shape For Life
personal coaching division, 3) Medifast Weight Control Centers, and
4) a national network of physicians. Medifast was founded in 1980
and is located in Owings Mills,
Maryland. For more information, log onto
www.MedifastNow.com.
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SOURCE Medifast, Inc.