“The company thanks Mr. Kagen for his service since June 2011 and wishes him well as he leaves to pursue other professional opportunities,” according to a filing with the Securities and Exchange Commission on March 24.
Kagen joined Medifast in June 2011 as executive vice president, marketing, sales and business development.
In August 2012, he was appointed to the position of executive vice president and chief marketing officer. He oversaw all marketing across the organization, driving day-to-day execution and initiating long-term plans to build awareness, drive revenue and profit growth all while working to expand the Medifast brand.
On Jan. 21, Mike MacDonald, chairman and CEO at Medifast, discussed the business of weight loss and what separates his company from the pack on “Bloomberg Surveillance.”
There are at least four main players in the weight loss space, according to Bloomberg.
“We’re trying to make products like macaroni and cheese, spaghetti—things that made you fat that you’d like to continue to eat,” MacDonald said.
He said that users of Medifast’s meal program will lose 2 to 5 pounds the first two weeks and 1 to 2 pounds the next two weeks.
The company’s shares closed Wednesday at $43.75, up 0.41 percent.
This story is from the Maryland Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism.