Tivity Health Announces Appointment of Director Anthony Sanfilippo as Chairman of the Board
Nashville, TN—Tivity Health® (Nasdaq: TVTY), a leading provider of nutrition, fitness and social engagement solutions, today announced that its Board of Directors unanimously elected Tivity Health Director Anthony M. Sanfilippo as Chairman of the Board, effective April 2, 2020. Sanfilippo succeeds Chairman Kevin G. Wills, who remains on the Board as an independent director through the Company’s 2020 Annual Meeting of Shareholders in May.
Robert J. Greczyn, Jr., Interim Chief Executive Officer and Board member of Tivity Health, said, “We thank Kevin for his tremendous Board leadership and valuable contributions over the last eight years. As we look to the future, we are confident that Anthony’s board and leadership experience — including as the former CEO of two highly successful public companies focused on hospitality and customer experience — will be invaluable as we position the Company for future success and complete our ongoing CEO search. We believe our Board and management team will benefit from Anthony’s unique perspective, judgment and counsel. Our Company is focused on driving profitable growth across the business and providing the highest quality solutions to our customers and members.”
Sanfilippo joined Tivity Health as a director in mid-March, 2020. He is a member of the Board of Directors of Papa John’s International, and previously served as the Chairman of the Board and Chief Executive Officer for Pinnacle Entertainment Inc., a publicly traded gaming and hospitality company. As CEO of Pinnacle Entertainment, Sanfilippo led the growth of the company over an eight-year period with an improvement in operating margins of over 1,200 basis points from the mid-teens to more than 28%. Investors who held shares of Pinnacle Entertainment during that period realized value appreciation in excess of six times, or a CAGR of approximately 27%. Sanfilippo led Pinnacle’s $4.75 billion sale of its real estate assets to a publicly traded real estate investment trust in 2016, as well as the sale of the remaining assets to a publicly traded gaming company for $2.8 billion in 2018. Prior to joining Pinnacle, Sanfilippo served as President, Chief Executive Officer and board member of Multimedia Games Inc., a publicly traded creator and supplier of comprehensive technology systems, content and electronic gaming devices for various segments of the gaming industry. Most recently, he co-founded Sorelle Capital, Sorelle Entertainment and Sorelle Hospitality, a series of firms focused on investing in and helping grow companies with entrepreneurs in hospitality sectors and related real estate ventures.
“It is an honor to be appointed Chairman of the Board of Tivity Health,” said Sanfilippo. “Tivity Health has a dedicated team of management with an engaged board of directors who are focused on delivering value to all stakeholders of the Company. I look forward to working alongside Bob, the rest of my fellow directors and the management team to continue thoughtfully growing by advancing our mission of empowering adults of every age to live healthier, better lives.”
Wills is stepping down to commit more time to his role as Chief Financial Officer of Pilot Company. Tivity Health also announced the Company’s current directors, Paul H. Keckley, Ph.D. and Lee A. Shapiro, will depart the Board upon expiration of their current terms at the Company’s 2020 Annual Meeting of Shareholders. With these departures and subject to the voting results of the Company’s shareholders, the Board will consist of nine members following its 2020 meeting, including: Sara J. Finley; Robert J. Greczyn, Jr.; Peter A. Hudson, M.D.; Beth M. Jacob; Bradley S. Karro; Benjamin A. Kirshner; Erin L. Russell; Daniel G. Tully; and Anthony M. Sanfilippo (Chairman). Six of the directors will have joined the Board within the last two years.