The Joint Corp. Announces Departure of John B. Richards and Appointment of Peter D. Holt as Acting Chief Executive Officer
SCOTTSDALE, Ariz., June 30, 2016 (GLOBE NEWSWIRE) -- The Joint Corp. (NASDAQ:JYNT), a national operator, manager and franchisor of chiropractic clinics, today announced that the employment of John B. Richards as the Company’s Chief Executive Officer has been terminated by mutual agreement, effective June 30, 2016. Mr. Richards also resigned his post as a Director of the Company.
The Company also announced the appointment of Peter D. Holt as acting Chief Executive Officer of the Company. Previously, Mr. Holt was serving as the Company’s Chief Operating Officer. Peter joined The Joint Corp. earlier this year, bringing to the Company more than 30 years of experience in domestic and international multi-unit retail, franchise development and operations.
Richard Kerley, The Joint Corp.’s lead director stated, “The board of directors has complete confidence in Peter Holt’s operational and leadership abilities. Mr. Holt was recruited with a view to the board’s responsibility for succession planning, and we look forward to supporting him as he applies his considerable skill and experience to fulfilling our commitments to our shareholders, franchisees and associates. And on behalf of the organization we wish to thank Mr. Richards for guiding the company through the early stages of our being a public company and helping to build a strong foundation for future development.”
Mr. Holt stated, “It is amazing to see what has already been accomplished in the short history of The Joint. Health and wellness are only becoming more important to our society. With over 330 clinics delivering more than 3 million adjustments over the last year in a convenient, retail environment, The Joint is perfectly positioned. I look forward to leading this company to continue to take advantage of this first mover opportunity.”
About The Joint Corp. (NASDAQ:JYNT)
The Joint is reinventing chiropractic by making quality care convenient and affordable for patients seeking pain relief and ongoing wellness. Our no-appointment policy and convenient hours and locations make care more accessible, and our affordable membership plans and packages eliminate the need for insurance. With 330+ clinics nationwide and more than 3 million patient visits annually, The Joint is an emerging growth company and key leader in the chiropractic profession. For more information, visit www.thejoint.com, follow us on Twitter @thejointchiro and find us on Facebook, You Tube and LinkedIn.
The Joint Corp. is a franchisor of clinics and an operator of clinics in certain states. In California, Colorado, Florida, Illinois, Minnesota, New Jersey, New York, North Carolina, Oregon and Tennessee, The Joint and its franchisees provide management services to affiliated professional chiropractic practices.
This press release contains statements about future events and expectations that constitute forward-looking statements. Forward-looking statements are based on our beliefs, assumptions and expectations of industry trends, our future financial and operating performance and our growth plans, taking into account the information currently available to us. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties that may cause our actual results to differ materially from the expectations of future results we express or imply in any forward-looking statements and you should not place undue reliance on such statements. Factors that could contribute to these differences include, but are not limited to, our failure to develop or acquire corporate clinics as rapidly as we intend, our failure to profitably operate corporate clinics, and the factors described in “Risk Factors” in The Joint Corp.’s 2015 Annual Report on Form 10-K. Words such as "anticipates", "believes", "continues", "estimates", "expects", "goal", "objectives", "intends", "may", "opportunity", "plans", "potential", "near-term", "long-term", "projections", "assumptions", "projects", "guidance", "forecasts", "outlook", "target", "trends", "should", "could", "would", "will" and similar expressions are intended to identify such forward-looking statements. We qualify any forward-looking statements entirely by these cautionary factors. We assume no obligation to update or revise any forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Comparisons of results for current and any prior periods are not intended to express any future trends or indications of future performance, unless expressed as such, and should only be viewed as historical data.