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8-K - CURRENT REPORT - MusclePharm Corp | mslp_8k.htm |
Exhibit 99.1
MusclePharm Appoints New Members to its Board of
Directors
DENVER, July 13, 2017 -- MusclePharm Corporation (OTCQB:
MSLP) ("MusclePharm" or the "Company"), a scientifically-driven,
performance lifestyle sports nutrition company, today announced two
new appointments to its Board of Directors, including John J. Desmond, a
certified public accountant with more than 40 years of public
accounting industry experience, and Brian Casutto,
MusclePharm’s Executive Vice President of Sales &
Operations. The appointments are effective July 7, 2017, expanding
the board to four directors.
Mr. Desmond, as an independent board member, will serve as Chairman
of the Audit Committee and Governance Committee, and will serve as
a member of the Compensation Committee and Nominating Committee.
Mr. Casutto’s specific committee appointments will be
determined at a later date.
Mr.
Desmond was Partner-in-Charge of the Long Island office of Grant
Thornton LLP from 1988 through his retirement from the firm in
2015. At Grant Thornton, Mr. Desmond served as lead audit partner
for many public and privately-held companies. From 2001 to 2013,
Mr. Desmond was elected by the U.S. Partners of Grant Thornton as a
member of its Partnership Board, which was responsible for
oversight of many of the firm's activities including strategic
planning, senior leadership team performance and the firm’s
financial performance. Mr. Desmond currently serves on the board of
The First of Long Island (NASDAQ: FLIC) and its wholly owned bank
subsidiary, The First National Bank of Long Island.
Mr.
Desmond, Chairman of the Audit
Committee and Governance Committee, commented,
“MusclePharm is a leader in the nutritional supplement market
and has an excellent track record of introducing new and innovative
products that are the gold-standard in the industry. I am excited
to align myself with the Company as it embarks on a new chapter in
its evolution and look forward to helping management advance its
strategic plan to reach a wider customer base and build shareholder
value.”
Mr.
Casutto joined MusclePharm in June 2014 to lead product development
and brand positioning of the recently launched Natural Series, and
was appointed to the role of Executive Vice President of Sales
& Operations in July of 2015. Prior to joining MusclePharm, he
served as Executive Vice President of Sales for Country Life, LLC.
During his tenure there, Country Life’s parent company,
Kikkoman Corp, appointed him to the Board of Directors, Country
Life (2007 - May 2014) and Board of Directors, Allergy Research
Group (2009 - May 2014).
Mr.
Casutto, Executive Vice President of Sales & Operations,
commented, “Since joining MusclePharm I have seen the Company
undergo a major evolution into a dynamic, financially strong leader
in the supplement market. I am proud to be asked to join the Board
of Directors at such an exciting time in the Company’s
development as it ramps up its share of the organic market, driven
by our new line of Natural Series products, and explores new
geographies to launch its products.”
“We
are pleased to welcome John and Brian to our Board of
Directors,” commented Ryan Drexler, President and Chief
Executive Officer of MusclePharm. “John’s financial
expertise, highlighted by more than 40 years of experience working
with growing companies like MusclePharm, will be an enormous asset
to our Board of Directors as we scale our operations. Brian has
been instrumental in getting the Company to where it is today and I
am confident his detailed knowledge of the Company and the broader
nutritional supplement industry will be invaluable in helping to
guide MusclePharm’s future growth.
“The
expansion of our Board of Directors will support the Company's
commitment to best practices in corporate governance as we make
broader changes across the business. Currently, we are in the
process of implementing MusclePharm’s multipronged growth and
value enhancement strategy, which includes the launch of new
product lines, such as Natural Series, and the expansion of our
global commercial footprint,” concluded Mr.
Drexler.
About MusclePharm Corporation
MusclePharm® is a scientifically-driven, performance lifestyle
company that develops, manufactures, markets and distributes
branded nutritional supplements. The Company offers a range of
powders, capsules, tablets and gels. Its portfolio of recognized
brands includes MusclePharm® Sport Series, Black Label and
Core Series, FitMiss™, as well as Natural Series which was
launched in 2017. These products are available in more than 120
countries and over 50,000 retail outlets worldwide. The
clinically-proven supplements are developed through a six-stage
research process utilizing the expertise of leading nutritional
scientists, doctors and universities. MusclePharm is the innovator
of the sports nutrition industry. For more information,
visit http://www.musclepharm.com.
To sign up to receive MusclePharm news via email, please
visit http://ir.musclepharmcorp.com/email-alerts.
Forward-Looking Statements
This
release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities and Exchange Act of 1934, as amended.
Statements that are not a description of historical facts
constitute forward-looking statements and may often, but not
always, be identified by the use of such words as "expects",
"anticipates", "intends", "estimates", "plans", "potential",
"possible", "probable", "believes", "seeks", "may", "will",
"should", "could" or the negative of such terms or other similar
expressions. Actual results may differ materially from those set
forth in this release due to the risks and uncertainties inherent
in the Company's business. More detailed information about the
Company and the risk factors that may affect the realization of
forward-looking statements is set forth in the Company's Annual
Report on Form 10-K for the fiscal year ended December 31, 2016,
the Company's Quarter Reports on Form 10-Q and other filings
submitted by the Company to the Securities and Exchange Commission,
copies of which may be obtained from the SEC's website at
www.sec.gov. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date
hereof. All forward-looking statements are qualified in their
entirety by this cautionary statement and the Company undertakes no
obligation to revise or update this release to reflect events or
circumstances after the date hereof.
Investor
Contact:
Phil
Carlson / Elizabeth Barker
KCSA
Strategic Communications
E-mail:MSLP@kcsa.com