Tivity Health President and COO Dawn Zier has left the Franklin-based company less than eight months after coming aboard as part of the $1.3 billion acquisition of Nutrisystem.
Tivity officials on Monday morning said they and Zier “mutually terminated” their relationship and signed a deal to provide her separation payments and benefits in accordance with the employment agreement she signed when she joined Tivity in March. That deals calls for Zier to, among other things, receive her $875,000 annual salary for the next two years as well as a prorated share of her annual bonus.
The company on Monday morning did not provide additional details on Zier's departure and officials could not immediately be reached for comment. (Update: The company says Keira Krausz, Nutrisystem's former CMO and Tivity's nutrition business unit leader since March, will now report to CEO Donato Tramuto.)
Zier had led weight loss program provider Nutrisystem since November 2012, overseeing a turnaround that included buying the South Beach Diet brand and rolling out several products. On the heels of the announcement — a year ago Tuesday — that Tivity would buy Nutrisystem, she said her team’s growth was set to get another push because the deal would open doors to building relationships with health insurers.
Per her employment contract, Zier also has resigned her Tivity board seat. The company’s remaining directors have voted to trim the size of the board to 11.
Shares of Tivity (Ticker: TVTY) were down 1.5 percent to $22.30 in pre-market trading Monday. Over the past six months, they have risen about 20 percent.
This story first appeared on our sister site the Nashville Post.