Steve Rattner, president of eDiets.com Inc., has added the title of CEO. The Fort Lauderdale, FL-based company derives more than a third of its revenue from selling diet-conscious meals, mostly via the web.
Rattner joined eDiets.com in May 2006 following the acquisition of Nutrio.com, which he helped to found and where he was president and CEO. He was named president of eDiets.com in October 2006.
"Steve has led eDiets.com's turnaround and served as a great leader for the past 13 months. He has assembled a top-notch management team and overseen the rebuilding of our technology on time and on budget, the successful revamping of our meal delivery program and the continued growth of our B2B businesses. We are very proud to have Steve take on the role of CEO and believe he has demonstrated the skills necessary to return the company to profitability and positive cash flow," says Kevin A. Richardson, chairman.
EDiets.com last week reported $6.8 million in revenue from continuing operations for the third quarter of 2007, compared to $12.2 million for the same period last year. Nearly $2.5 million of the revenue came from the sale of meals for home delivery to dieters, and the rest from subscriptions to an informational service. Loss from continuing operations for the quarter was $2.5 million, compared to net income from continuing operations of $0.5 million during the same period a year ago.
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