David Binns Named Chief Operating Officer at Macfadden

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Macfadden announced today the appointment of David Binns to the newly created position of Chief Operating Officer at Macfadden. The creation of the position speaks to the recent growth of Macfadden and the company's desire to continue to achieve its strategic goals. A proven leader with more than 20 years providing corporations with strategic direction, Mr. Binns previously served on Macfadden's Board of Directors and Strategic Advisory Group, and was a key advisor in the company's move to employee-ownership throughout 2007.

"I look forward to enabling Macfadden to become better prepared as we increase the scale of our operations. During this time of robust growth, our greatest challenge will be to ensure that change is perceived as an opportunity," said Binns. "I look forward to working with such an outstanding team of people to ensure the company takes full advantage of these opportunities."

David is an experienced consultant, providing guidance to numerous domestic and international companies regarding the legal, financial and human resource implications of the structure of employee ownership plans. He has also been an active promoter of using employee ownership to facilitate privatization, defense conversion and economic development in several foreign countries. He is a published author and frequent speaker on issues related to employee ownership and enterprise development.

Prior to joining Macfadden, David served as Associate Director of the Beyster Institute, where he advised numerous U.S. companies on strategies for implementing equity compensation plans. Earlier in his career, David served as Executive Director of The ESOP Association, the national trade association representing the interests of companies with employee stock ownership plans (ESOPs) and professionals providing advisory services to ESOP companies. In this capacity, he directed the Association's overall programs including government and public relations, publications, conferences and membership services.

"We have significantly benefited from David's expertise in his previous support roles at Macfadden as a Board member and as a trusted advisor for ESOP governance and I look forward to his expanded role at the company," said Russell Hall, President and CEO at Macfadden. "As a leading expert in employee ownership, David understands the unique operational environment of an employee-owned company and is a strong addition to our management team. I look forward to working closely with him during this exciting growth period at Macfadden."

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