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Nutrisystem Searching for New CEO

The Fort Washington-based weight loss company will reportedly keep current CEO Joe Redling in place through Nov. 2.

According to Businessweek, Fort Washington-based Nutrisystem Inc. has extended current CEO Joe Redling's contract through Nov. 2 while it continues to search for a replacement, though the company had reportedly declined to renew Redling's contract when it ends on Sept. 30.

Businessweek reports that the company is struggling to deal with cost increases and stiff competition in the weight-loss market. Shares in the company were trading at $10.66 on Thursday.

According to the company's website, the top job isn't the only one needing to be filled. Applications are currently being accepted for the following positions as well:

Read more about the company's hunt for a CEO here.

 

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