OWINGS MILLS, Md., May 13 Medifast, Inc.(NYSE: MED), a leading portion-controlled weight loss program, today announcedthat Barry B. Bondroff, CPA has been named to the Board of Directors.Bondroff, currently a Senior Managing Director with SMART, a diverse team ofbusiness advisory professionals founded in 1988, brings over 35 years ofexperience providing companies of all sizes and industries with practical andcost-effective accounting, assurance, tax, business, technology and financialadvisory services.
"Medifast is very proud to be adding someone of Barry's caliber andexpertise to our Board of Directors," said Brad MacDonald, Chairman of theBoard, Medifast, Inc. "He brings over 35 years of financial advisoryexperience as well as countless local affiliations serving numerous companiesand causes in the Baltimore area."
Prior to managing SMART, Bondroff was the Managing Partner for Grabush,Newman & Co., P.A., which combined with SMART in May 2003. Bondroff began hiscareer with Grabush Newman in 1970, and in 1976 became Officer and waspromoted to Managing Partner in 1982. He earned his Bachelor of Science degreein Accounting from the University of Baltimore.
Bondroff also serves on the Board of Directors for the publicly tradedFirst Mariner Bank of Maryland, a NASDAQ listed SEC registrant. Bondroff isactive with First Mariner serving on the Executive Committee, Loan Committee,Audit Committee and as Chairman of the Compensation Committee. First Marinerwas a start-up bank that demanded detailed oversight by Bondroff and all Boardmembers.
Including First Mariner, Bondroff has extensive bank experience, servingon the leadership team responsible for the first bank proxy battle in thecountry resulting in the successful takeover of The Bank of Baltimore, a NYSElisted SEC registrant. In that capacity Bondroff was actively involved inrebuilding the bank and providing oversight and governance in transition.
In addition to his professional affiliations, Bondroff served on theExecutive Committee for Israel Bonds and was a Director of Cycle AcrossMaryland. Bondroff has served the National Jewish Medical and Research Center,the Jewish Center for Business Development and has assisted the BaltimoreSymphony Orchestra in its fundraising efforts. In addition, Barry was a pastPresident and Treasurer of the Edward A. Meyerberg Northwest Senior Center,and also served as a Member of the Board of Directors for the Levindale HebrewGeriatric Center and Hospital.
Medifast (NYSE: MED) is the leading easy-to-use, clinically provenportion-controlled weight loss program. Medifast has been recommended by15,000 physicians and used by over one million customers. It is committed toenriching lives by providing innovative choices for lasting health. Medifastprograms have been proven effective through studies by major universityteaching hospitals. The company sells its products and programs via fourunique distribution channels: 1) the web and national call centers, 2)national network of physicians, 3) medically supervised Medifast WeightControl Centers, and 4) the Take Shape For Life direct-selling division, anetwork of health coaches. Medifast was founded in 1980 and is located inOwings Mills, Maryland. For more information log ontohttp://www.choosemedifast.com/.
SOURCE Medifast, Inc.