Medifast Inc. Hires New CEO

Forbes:

Weight management products maker Medifast Inc. said Thursday Michael S. McDevitt officially took over as chief executive officer.

The change in CEO from Bradley T. MacDonald to McDevitt was announced in January. MacDonald remains on as the chairman of the board of directors.

McDevitt has been with the company since 2002 and has held the positions of president, chief financial officer and vice president of finance.

Following his appointment, he promoted Margaret E. MacDonald, daughter of Bradley T. MacDonald and the former executive vice president of operations, to president and chief operating officer.