PacificHealth Labs, www.pacifichealthlabs.com – the pioneering nutrition technologist behind some of the most effective, patented, protein-based, peptide-stimulating sports performance and weight loss nutritionals available in the marketplace, announced sweeping changes yesterday.
President and CEO of PHLI, Fred Duffner, acknowledged that the shift away from the Company’s core and heritage in sports nutrition over the last three years did not yield the kind of strength and overall shareholder value desired. As a result, while PHLI will continue to develop the weight management segment, primary focus will again be directed towards the exceptional endurance athlete-focused products.
To this end, Duffner announced a series of changes that will cut across all aspects of the business with the goal of making PHLI a “lean, energized and highly motivated sales and marketing organization firmly focused on growing our endurance business with existing and cutting-edge new products” by 2011.
These include:
1. Fixed Overhead down 30% or $750k; non-performing overhead reduced
2. Management streamlined, protocols implemented to enable more efficient integration with contract manufacturers
3. Marketing vs. Core Business Investment planned to go up seven-fold over 2010 without increasing relative budget allocations; non-productive line items eliminated and re-bundled into 2011 marketing strategy that encompasses the gamut from advertising to e-commerce and social media
4. Sales Budget reallocation directly to regional managers, yielding better coverage of key retailers
5. Research program stepped-up, to yield two new breakthrough products in 2011
6. Cash Flow maximized via implementation of advanced inventory process and manufacturing techniques
7. Board streamlined by 40%; future compensation relegated to cash payments
Duffner thanked shareholders for their patience and assured them that that forbearance would be richly rewarded in 2011, as PHLI has taken all the necessary steps to supercharge its core performing business.
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