Nutrisystem Announces Management Changes

  Nutrisystem Announces Management Changes

Keira Krausz joins as EVP and Chief Marketing Officer; brings deep experience
                       in direct-to-consumer marketing

Business Wire

FORT WASHINGTON, Pa. -- February 11, 2013

Today Nutrisystem (NASDAQ: NTRI) announced that Keira Krausz has joined the
company as Executive Vice President and Chief Marketing Officer. Ms. Krausz is
a proven marketing leader with a track record of building profitable
businesses, executing effective turnaround strategies, and identifying and
monetizing new revenue streams in the direct consumer response sector.

From 2005 to 2012, Ms. Krausz served as Vice President of Marketing for QSP,
Inc., a subsidiary of Time, Inc. and the largest youth fundraising company in
America. During her tenure at QSP, she built the company’s e-commerce business
into a significant contributor to revenues, developed social media strategies
to drive customer engagement and sales, and ultimately worked with senior
leadership to execute on the sale of the company in 2012. Following the sale,
she became head of new business development for Animated Storyboards, the
largest global independent provider of television test spots to the
advertising industry.

Ms. Krausz started her career at Reader’s Digest Association (RDA) in 1992,
and held a number of progressively-responsible positions in product
management, marketing, and business management, ultimately ascending to Vice
President, General Manager, of RDA’s Books & Music Business. Strategies she
implemented in that capacity resulted in revitalized product flow, new
partnerships, and expansion of the company’s customer base, which ultimately
drove multi-million-dollar improvements in operating profits.

Dawn Zier, President and Chief Executive Officer of Nutrisystem, says, “Keira
brings the perfect set of skills to the top marketing job at Nutrisystem and
can quickly hit the ground running and make a positive impact. Throughout her
career, she has worked in the direct consumer response arena and is adept at
identifying new sources of revenue, fixing struggling businesses, and
maximizing margins and profitability. In addition, her recent experience in
the advertising sector will be helpful as we seek to refresh our message to
consumers and inject a more female-oriented perspective that speaks to the
entire weight loss journey into both our broadcast ads and online presence.”

Keira Krausz added, “I am a strong believer in what Nutrisystem has to offer.
Dieters are most successful with a structured program and personal support and
encouragement as they seek to change their lives and become who they want to
be. Throughout my career, I’ve been tapped to turn around direct marketing
businesses, and I believe that with a renewed focus on the fundamentals,
creative development and optimization of sales channels, and implementation of
more effective e-commerce strategies, we can return the company to growth. I
look forward to working with Dawn Zier and the Nutrisystem team to execute our
turnaround plan.”

Ms. Krausz holds a Bachelor of Arts degree from Cornell University and a
Master of Business Administration from The Amos Tuck School of Business
Administration at Dartmouth College.

Mike Amburgey, the company’s Chief Marketing Officer since October 2011, will
depart the company to pursue other interests.

Additional Management Changes

Separately, the company also announced that David Clark, Chief Financial
Officer, will depart the company after the fourth quarter earnings release in
early March 2013 to join a publicly-traded company as its Chief Financial
Officer. Nutrisystem is conducting a search for a new Chief Financial Officer.
Kathleen Simone, the company’s Controller for more than 15 years, will serve
as Acting Chief Financial Officer if Mr. Clark’s replacement is not appointed
before his departure. Ms. Simone is currently responsible for all aspects of
the company’s accounting and financial reporting, as well as risk management.

Dawn Zier added, “I want to thank both David and Mike for their many
contributions to Nutrisystem. Thus far in 2013, we believe the execution of
our turnaround plan is having a positive early impact on year-over-year
profits, as preliminary January results showed improvement in gross margins.
While it’s still early, we’re encouraged by these metrics and we anticipate
that we can continue to make positive improvements as the year progresses.”

Fourth Quarter Earnings Release and Conference Call Details

Nutrisystem will announce fourth quarter earnings at 4:00pm on Tuesday, March
5, 2013. The company will hold a conference call with the investment community
at 4:30pm EST that day.

A webcast of the conference call will be available live on the Investor
Relations section of Nutrisystem's website at www.nutrisystem.com. Interested
parties unable to access the conference call via the webcast may dial
719-325-2452 and reference conference 3110645. A replay of the conference call
will be available on the company website for 30 days following the event.

About Nutrisystem, Inc.

Having helped Americans lose millions of pounds over the last 40 years,
Nutrisystem, Inc. (NASDAQ: NTRI) develops evidence-based programs for healthy
weight management, and is the leading provider of home-delivered weight loss
meal plans. Nutrisystem offers balanced nutrition in the form of low glycemic
index meal plans designed for men and women, including seniors, vegetarians
and the Nutrisystem® D® program for people with diabetes or at risk for type 2
diabetes. Nutrisystem® plans include a wide variety of pantry and fresh-frozen
entrees and snacks to aid in program satisfaction and adherence, as well as
transition plans to support long-term success. The Fort Washington, PA-based
company also provides weight management support and counseling by trained
weight-loss coaches and registered dietitians, as well as through an engaged
online community, online tools and trackers, mobile apps, cookbooks and more.
Healthcare professionals may learn more about the programs by visiting
www.nutrisystem.com/hcp. Nutrisystem® weight loss plans are available directly
to consumers through www.nutrisystem.com, by phone (1-800-435-4074) and at
select retailers.

Forward-Looking Statement Disclaimer

Information provided and statements contained in this press release that are
not purely historical, such as details about the company’s management changes,
turnaround plan and future prospects, are forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements only speak as of the date of this
press release and the Company assumes no obligation to update the information
included in this press release. Statements made in this press release that are
forward-looking in nature may involve risks and uncertainties. Accordingly,
readers are cautioned that any such forward-looking statements are not
guarantees and are subject to certain risks, uncertainties and assumptions
that are difficult to predict, including, without limitation, specific factors
discussed herein and in other releases and public filings made by the Company
(including filings by the Company with the Securities and Exchange
Commission). Although the Company believes that the expectations reflected in
such forward-looking statements are reasonable as of the date made,
expectations may prove to have been materially different from the results
expressed or implied by such forward-looking statements. Unless otherwise
required by law, the Company also disclaims any obligation to update its view
of any such risks or uncertainties or to announce publicly the result of any
revisions to the forward-looking statements made in this press release.

Contact:

Gregory FCA
Joe Crivelli
Senior Vice President
Direct: 610-228-2100
 
Press spacebar to pause and continue. Press esc to stop.