DENVER, CO--(Marketwired - May 2, 2013) - MusclePharm Corporation (
From 1987 to 1998, Estalella enjoyed a storybook career at Office Depot where he established many of the company's retail markets, along with its nationwide distribution center network, and helped grow it into a $9 billion dollar company. Moving quickly up the management ranks at Office Depot, he began as an assistant store manager in Miami, Florida before becoming a District Manager in 1989 and Special Projects Manager in 1990. By 1992 he was a Regional Vice President and responsible for 120 stores with sales in excess of $1 billion. In 1996 he was named Vice President of Logistics and Distribution and ultimately Senior Vice President of Warehouse Operations in 1997, where he was responsible for total warehouse operations, order fulfillment and delivery, and had oversight of 3,500 associates in 20 locations having total volume in excess of $2.4 billion.
From 1998 to 2005, Estalella was President and owner of Allied Project Management, Inc., a consulting business specializing in retail, e-commerce, operations, warehousing and distribution. The majority of his clients were Fortune 1000 companies.
And most recently, since 2005, Estalella was Senior Vice President of Operations at Arbonne International, a skin care and wellness products company, where he was responsible for all global manufacturing, supply chain, transportation, fulfillment and warehouse functions, facilities management and North American customer service. While at Arbonne, he was able to reduce inventory levels by over 40% while improving fulfillment fill rates to over 99% and order accuracy to 99.7%. His oversight and strategies resulted in millions of dollars of both cost savings and profit improvement for Arbonne.
Commenting on the announcement, Mr. Estalella stated, "I view MusclePharm as an exceptional opportunity to join a company with an outstanding brand that is already experiencing extraordinary growth in a highly fragmented multi-billion market. Whereas revenue growth has been the major focus for management since inception, I believe there is a quite a bit of opportunity to immediately improve the operating side of the business. I am anxious to work with Brad and the entire MusclePharm team to build a world class organization."
John Bluher, Executive Vice President and co-Chairman of MusclePharm, stated, "Richard's immense experience in managing operations of fast growing businesses makes him both a perfect, and timely addition to the MusclePharm team. I look forward to continuing to serve as MusclePharm's co-Chairman as well as its interface with capital market professionals."
Brad Pyatt, MusclePharm's Founder & CEO, commented, "Given my background as a former NFL player, I would characterize Richard as an enormous, game-changing free agent addition to the MusclePharm team. He has proven to be an exceptional executive manager at both Office Depot and Arbonne International at a time when each were experiencing extraordinary growth. I believe adding Richard greatly reduces execution risk and enhances our ability to scale the Company. I am excited to work closely with him in pursuit of our goal of building MusclePharm into the global leader in sports nutritional products."
ABOUT MUSCLEPHARM CORPORATION
MusclePharm is a healthy lifestyle company that develops and manufactures nutritional supplements which address active lifestyles, including muscle building, weight loss and maintaining general fitness through a daily nutritional supplement regimen. The products are formulated through a six-stage research process using the expertise of leading nutritional scientists. MusclePharm's products are sold to consumers in more than 90 countries and available in over 10,500 U.S. retail outlets, including Dick's Sporting Goods, GNC, Vitamin Shoppe and Vitamin World. MusclePharm products also are sold through more than 100 online channels globally, including bodybuilding.com, amazon.com and vitacost.com. MusclePharm also owns FitMiss™ (http://fitmiss.com/), a branded line of fitness supplements which is designed, dosed and formulated specifically for women with active lifestyles. For more information, please visit http://musclepharm.com/.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as "expects", "anticipates", "intends", "estimates", "plans", "potential", "possible", "probable", "believes", "seeks", "may", "will", "should", "could" or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company's business. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's Annual Report on Form 10-K/A for the fiscal year ended December 31, 2011, the Company's Quarter Reports on Form 10-Q and other filings submitted by the Company to the SEC, copies of which may be obtained from the SEC's website at www.sec.gov. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
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