SALT LAKE CITY - LifeVantage (NASDAQ:LFVN) Corporation (NASDAQ:LFVN), a company specializing in nutrigenomics, announced the appointment of Dayton Judd to its Board of Directors, effective immediately. This addition is part of a Cooperation Agreement with the Radoff-Sudbury Group, which owns approximately 12.6% of LifeVantage's outstanding stock. The agreement follows ongoing discussions since the annual meeting of shareholders on November 6, 2023.
Dayton Judd brings a wealth of experience to the board, including his current role as CEO of FitLife Brands, Inc. (NASDAQ: FTLF), and his background in investment advisory and management consulting. Judd's financial and industry expertise is anticipated to contribute significantly to LifeVantage's growth and profitability, according to Ray Greer, Chairman of the Board.
Steve Fife, President and CEO of LifeVantage, expressed confidence in the company's LV360 initiatives to drive profitability and the intention to return Adjusted EBITDA margins to double-digit levels. The company also plans to continue delivering value to shareholders through dividends and share repurchases, supported by a robust balance sheet.
The Radoff-Sudbury Group has committed to customary standstill and voting provisions under the Cooperation Agreement. Further details of the agreement will be disclosed in a Form 8-K filing with the U.S. Securities and Exchange Commission.
LifeVantage, headquartered in Lehi, Utah, is known for its range of dietary supplements and wellness products aimed at supporting health at a genetic level. The company's flagship products include the Protandim® family, as well as a variety of other health and wellness offerings.
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