Tivity Health Announces Resignation of Board Director Daniel G. Tully

Rhea-AI Summary

Tivity Health (Nasdaq: TVTY) announced the resignation of Daniel G. Tully from its Board of Directors, effective September 1, 2020. Tully, a co-founder of Altaris Capital Partners, has been a board member since August 2019. The Chairman of the Board, Anthony Sanfilippo, expressed gratitude for Tully's contributions. Tully noted the company has undergone significant changes, including new leadership, and he remains confident in its direction. Altaris holds approximately 9.4% of Tivity Health's outstanding common stock.

Positive

• Tivity Health has undergone significant leadership changes, potentially enhancing its strategic direction.
• Tully's confidence in the company's direction indicates stability and potential shareholder value.

Negative

• The resignation of a Board member may signify a disruption in continuity and could raise concerns about governance.
• With Tully's departure, there may be a gap in experience on the Board, as he has been a member for a relatively short period.

NASHVILLE, Tenn., Sept. 1, 2020 /PRNewswire/ -- Tivity Health (Nasdaq: TVTY) today announced the resignation of Daniel G. Tully from its Board of Directors. Tully is a co-founder and managing director at Altaris Capital Partners, an investment firm focused exclusively on the healthcare industry, and has served on the Tivity Health Board of Directors since August 2019.

"We appreciate and thank Dan for his level of engagement, thoughtful input and many contributions as a Director of our Board," said Anthony Sanfilippo, Chairman, Tivity Health Board of Directors.

"During my time as a Director of Tivity Health the Company has made significant changes, including new leadership of the Company and the Board," said Tully. "I have confidence that the direction the Company is taking will provide value to all Tivity Health stakeholders."

Altaris, together with its affiliates, beneficially own approximately 9.4 percent of the Company's outstanding common stock.

About Tivity Health

Tivity Health^® (Nasdaq: TVTY) is a leading provider of healthy life-changing solutions, including SilverSneakers^®, Nutrisystem^®, Prime^® Fitness, Wisely Well™, South Beach Diet^® and WholeHealth Living^®. We are actively addressing the social determinants of health, defined as the conditions in which we work, live and play. From improving health outcomes to reversing the narrative on inactivity, food insecurity, social isolation and loneliness, we are making a difference and are transforming the way we do health. Learn more at TivityHealth.com.

View original content to download multimedia:http://www.prnewswire.com/news-releases/tivity-health-announces-resignation-of-board-director-daniel-g-tully-301121621.html

SOURCE Tivity Health

FAQ

What does the resignation of Daniel G. Tully mean for Tivity Health?

Daniel G. Tully's resignation from Tivity Health's Board of Directors may impact governance and continuity, but he expressed confidence in the company's new direction.

When did Daniel G. Tully resign from Tivity Health's Board?

Daniel G. Tully resigned from Tivity Health's Board of Directors on September 1, 2020.

What percentage of Tivity Health's stock does Altaris own?

Altaris Capital Partners beneficially owns approximately 9.4% of Tivity Health's outstanding common stock.

Who acknowledged Daniel Tully's contributions upon his resignation?

Anthony Sanfilippo, Chairman of the Tivity Health Board of Directors, acknowledged Daniel Tully's contributions.

What leadership changes has Tivity Health undergone recently?

Tivity Health has experienced significant leadership changes, including new leadership at the company and the Board.