Wednesday, May 22, 2024

Ex-Blue Cross CEO Bob Greczyn now running Nutrisystems’ owner

Veteran N.C. health care executive Bob Greczyn has a new challenge on his hands, stepping in as interim CEO of Franklin, Tenn.-based Tivity Health, which owns the Nutrisystems and South Beach Diet brands.

Last week, Tivity reported a fourth-quarter loss of more than $320 million, mostly due to a goodwill impairment charge because executives reduced the long-term growth projections for Nutrisystems. Tivity bought the nutrition company last year.

Greczyn replaced Donato Tramuto, the CEO since 2015. Nutrisystem’s top execs Keira Krausz and Dawn Zier also resigned recently. “Bob has been a leader on our Board for several years and we are confident that he will provide stability for the business, our partners and customers, as we continue to focus on increasing shareholder value,” said Kevin Wills, chairman of the board, in a press release.

Shares of Tivity declined more than a third on Feb. 20 after the quarterly results were disclosed. Tivity traded at about $12.15 Wednesday, down from more than $46 in 2017.

Greczyn is a former CEO of Blue Cross and Blue Shield of North Carolina and HealthSource North Carolina. He’s a director of Vidant Health in Greenville and former chair of the East Carolina University Board of Trustees.

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