PacificHealth Laboratories, Inc. (otcqb:PHLI), a nutrition technology company, announced that the Board of Directors voted to elect Dr. Robert Portman, Company founder, as its Chairman of the Board. Dr. Portman, a well-known sports science researcher and author, developed all of the Company's sports nutrition products. Since August 2010, Dr. Portman has been working as a consultant for the Company.
Fred Duffner, President and CEO, said, "We are extremely pleased with Dr. Portman's new role as Chairman of the Board. Dr. Portman, who created the recovery category in sports nutrition 15 years ago when he started PHLI, has led the new product and consumer communication efforts over the past 6 months. I look forward to working with Dr. Portman more closely as we work to return PHLI to profitability and sustained growth."
Dr. Portman said, "I am delighted to play an increased role in what is a very exciting time for PacificHealth Laboratories. With breakthrough products, a renewed emphasis on science and aggressive sales and marketing strategy, our goal is to reclaim our leadership in sports nutrition."
In other actions, the Board agreed to forgo any Board compensation for the remainder of the year. Fred Duffner said, "This action by the Board is evidence of their commitment to making PHLI profitable in 2011."
Marc Particelli, a director since February 2007, announced his resignation from the Board.
PacificHealth Laboratories, Inc. (otcqb:PHLI), a leading nutrition technology company, has been a pioneer in discovering, developing and commercializing patented, protein-based nutritional products that stimulate specific peptides involved in appetite regulation and that activate biochemical pathways involved in muscle performance and growth. PHLI's principal areas of focus include sports performance and weight loss. To learn more, visit www.pacifichealthlabs.com.