XELR8 Names Former USANA COO as a New Board Member

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DENVER, Aug. 22 /PRNewswire-FirstCall/ — XELR8 Holdings, Inc. , a provider of functional foods, beverages and nutritional supplements, is pleased to announce the expansion of its Board of Directors with the appointments of Daniel Rumsey and Anthony Petrelli as new independent members. In addition, Rumsey will serve on the both the Audit and Compensation committees, and Petrelli will serve on the Compensation Committee. The XELR8 Board is now comprised of seven directors, of which four are independent.

The Company further announced that John “Jeb” McCandless, a current director, has been named new Chairman of the Board.

John Pougnet, CEO, CFO and an executive member of the Board, stated, “We are very proud to welcome both Dan and Tony to our Board, and expect that their proven leadership and oversight will help to further strengthen and complement our corporate governance practices and Board stewardship. Moreover, given their respective areas of expertise, we look forward to fully capitalizing on their enhanced objectivity and business perspective on important issues related to refining and managing our Company’s long term growth strategy.”

Continuing, Pougnet added, “We’re also very pleased to confirm that Jeb McCandless has agreed to serve as our new Chairman of the Board. Having served as a director of XELR8 since February of 2004, Jeb has provided strong board leadership over the years and has provided valuable guidance to our management team. Particularly in light of his proven industry experience earned while serving as Chief Operating Officer of USANA Health Sciences and Vice President of Schiff Nutrition (formerly Weider Nutrition International), he is an ideal choice to step into this important role.”