Medifast: Former CEO Michael MacDonald steps down from board

Medifast

14/12/2020 18:26

** Shares of the food processing co  MED.N  up 6.3% at
$196.2
    ** Says Michael MacDonald, non-executive chairman of board,
has stepped down from his role  urn:newsml:reuters.com:*:nPn72Rp5wa
    ** MacDonald is former executive chairman and CEO of co; he
was appointed to these roles in 2012
    ** MacDonald had launched OPTAVIA in 2016, a weight-loss and
maintenance plan that provides products, diet plans and support
from coaches
    ** Board names CEO Dan Chard executive chairman 
    ** YTD, shares co have risen 78.76% 
     

 (Reporting by Sohini Podder in Bengalurur)
 ((Sohini.Podder@thomsonreuters.com;))