The company also announced the resignation of president and CEO Kevin McGrath, effective immediately. McGrath will continue to serve as an advisor to the company until 1 March 2012, to assist with transition matters.
"On behalf of the Board of Directors, we want to thank Kevin for his contributions to eDiets," said Kevin Richardson, the company's chairman. "For the past three years, Kevin has led the company through an unusually challenging environment, and we wish him well in his future endeavors."
Richardson continued, "We are fortunate to have a qualified and experienced successor within our Board. Tom brings a deep background in the health and wellness industry and direct response marketing and we look forward to working with him in his new role."
Connerty (49) has over 25 years of expertise in direct response marketing with leading consumer branded companies. He formerly held a number of senior positions with NutriSystem, including chief marketing officer from November 2004 to May 2008, executive VP from April 2005 to May 2008 and executive VP of Program Development from July 2006 to May 2008. From 1999 to 2004, Connerty served as VP of Marketing at the Nautilus Group, where he played a key role in building the Bowflex division into one of the most profitable and recognisable names in the direct response home fitness market. Prior to Nautilus, Connerty served as the VP of Broadcast for the Home Shopping Network.
Tom Connerty said, "I look forward to working with our team to address the challenges ahead and profitably grow the business. eDiets offers consumers safe and cost effective solutions to achieve their weight loss goals, and I am excited to lead the Company as we expand our reach and maximise brand potential. Both the Board and our entire management team are committed to significantly enhancing the value of eDiets for all our stakeholders."
"My time at eDiets has been challenging, yet rewarding," said Kevin McGrath. "We have significantly improved the cost structure and focus of all aspects of the business. The last piece of the equation is to continue to ramp sales for meal delivery. I can think of no one with more relevant skills in this regard than my successor, Tom Connerty. I wish him all the success in the world."
