(By Balaseshan) Medifast Inc. (NYSE: MED), which makes weight management products, said it has appointed Timothy Robinson as Chief Financial Officer, effective February 1, 2013.
Robinson will replace Joseph Kelleman who has been serving as the company's Chief Financial Officer on an interim basis since December 2012. Kelleman will continue in his role as Director of Finance - Supply Chain.
Robinson brings over 25 years of diverse management experience in finance, accounting, and business operations.
Most recently, Robinson held the position of Vice President, Business Operations for Canon Business Solutions Inc. from 2008 – 2013, where he served as a key member of the executive team for this over $1 billion national office products subsidiary of Canon U.S.A.
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While in the role at Canon Business, Robinson led a 450 person organization, managed several business acquisitions that strengthened the company's U.S. presence, and was an executive member of the integration team that formed the over $1 billion Canon Solutions America Inc. business.
Medifast's product lines include weight and disease management, meal replacement, and vitamins. The company's operations are primarily conducted through five of its subsidiaries: Jason Pharmaceuticals Inc., Take Shape for Life Inc., Jason Enterprises Inc., Jason Properties LLC and Seven Crondall LLC.
MED closed Monday's regular session up 0.25% at $27.55. The stock has been trading between $14.67 and $33.29 for the past 52 weeks.