PURCHASE, N.Y.-- Nutrition 21 (NASDAQ:NXXI), the leading developer and marketer of chromium-based nutritional supplements, today announced the appointment of Eric W. Klar as business director of its consumer products operations.
Klar is responsible for Nutrition 21's Lite Bites(R) product line (marketed as Brite Bites(R) in the U.K.), which is sold exclusively through QVC's direct-response television and Internet distribution channels. He will lead Nutrition 21's planned growth initiatives to expand its alliance with QVC and to seek new business opportunities for the company's consumer products line.
Gail Montgomery, Nutrition 21's president and chief executive officer, said, "Eric Klar fills another key slot at Nutrition 21, as we continue to strengthen the breadth and depth of our management team. Eric is a seasoned executive with broad-based experience ranging from start-ups to Fortune 500 companies. He will play an important role in helping us to penetrate new markets for our consumer products and to capitalize on the emerging growth opportunities we are targeting."
Prior to joining Nutrition 21, Klar was chief operating officer of Sherpa's Pet Trading Company, a leading manufacturer of ultra high-end specialty pet products. At Sherpa's, Klar oversaw the development of the firm's strategic and tactical business plans, and had operational responsibility for sales, marketing, manufacturing, finance, warehousing and public relations.
From 1991 to 1998, Klar was with Greenfield Healthy Foods, a start up company that was sold to Campbell Soup Co. As one of the founding members of Greenfield, he served as vice president of sales and marketing and was later named executive vice president and chief operating officer, responsible for strategic and tactical planning, infrastructure development, marketing, sales, public relations, distribution and syndicated marketing services.
Earlier in his career, Klar held a number of sales and marketing positions at Tambrands and Bristol-Myers.
Klar holds a B.S. from the University of Hartford (CT).
About Nutrition 21
Nutrition 21 is a leading developer and marketer of nutritional supplements whose health benefits have been substantiated by clinical research. Headquartered in Purchase, N.Y., it is the market leader in nutritional chromium, an essential trace mineral critical for the proper function of insulin, the master metabolic hormone. The company's flagship product is Chromax chromium picolinate, a highly bioavailable form of chromium that is sold as an ingredient to manufacturers of vitamins and other nutritional supplements. Nutrition 21 also markets its own proprietary line of chromium-supplemented products, which are sold exclusively on the QVC television network. Nutrition 21 currently holds 33 patents for nutrition products; 23 for chromium compounds and their uses. More information is available at www.nutrition21.com.
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This press release may contain certain forward-looking statements. The words "believe," "expect," "anticipate" and other similar expressions generally identify forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. These forward-looking statements are based largely on the Company's current expectations and are subject to a number of risks and uncertainties, including without limitation: the effect of the expiration of patents; regulatory issues; uncertainty in the outcomes of clinical trials; changes in external market factors; changes in the Company's business or growth strategy or an inability to execute its strategy due to changes in its industry or the economy generally; the emergence of new or growing competitors; various other competitive factors; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission, including its Registration Statement on Form S-3, the Prospectus dated April 25, 2000, its Form 10-K for the year ended June 30, 2001, and its Form 10-Q for the period ended September 30, 2001. Actual results could differ materially from the results referred to in the forward-looking statements. In light of these risks and uncertainties, there can be no assurance that the results referred to in the forward-looking statements contained in this press release will in fact occur. Additionally, the Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that may bear upon forward-looking statements.
The Dilenschneider Group
Media: Jim Swords
Investors: Reid Gearhart