Medifast names Daniel Chard as CEO, effective October 3
Medifast announced that Daniel Chard has been appointed as CEO and as a member of Medifast's Board of Directors, effective October 3, bringing the size of the board to 10 members. Chard succeeds Michael MacDonald, who will stay with Medifast in the role of Executive Chairman of the Board. Chard was selected by a search committee led by MacDonald and Medifast Independent Director, Glenn Welling, and his appointment as CEO was unanimously approved by the Company's Board of Directors. The Company also announced that it expects to meet or exceed third quarter guidance for revenue from continuing operations in the range of approximately $64M-$67M and earnings per diluted share from continuing operations in the range of 43c-46c per diluted share. Q3 consensus is 45c for EPS and $66.79M for revenue.