Medifast, Inc. announced that it has appointed James (Jim) Maloney as chief financial officer, effective today.
In his role, Maloney will be responsible for leading the finance function, including all aspects of financial planning and analysis, setting Medifast’s financial and capital allocation strategies and managing investor relations. He will serve as a member of the company’s leadership team and report directly to Chief Executive Officer Dan Chard.
“We are pleased to welcome Jim to the Medifast team as we continue on our mission to offer the world lifelong transformation, one healthy habit at a time,” said Chard. “Jim brings deep public company experience, a strong focus on capital allocation and an ability to manage the finance function of a fast-growing, dynamic and complex business. He also has a history of building value, which will be important as we aim to deliver long-term sustainable growth through our differentiated approach to health and wellness.”
Maloney most recently served as senior vice president and chief financial officer for L.B. Foster Company, a publicly held global manufacturer and distributor of products and services for transportation and energy infrastructure. Prior to that he served as chief financial officer of First Insight, Inc., and had roles at the H.J. Heinz Company, including vice president of Global Financial Planning and Supply Chain Finance, director of Finance for Supply Chain for Heinz North America, and controller of Heinz North America.
“I am thrilled to join the team at Medifast, said Maloney. “The company’s unique business model, collaborative culture and OPTAVIA’s robust and inspiring community provides the opportunity to drive significant value for stockholders.”
