Chairman and CEO Michael Johnson to Become
Executive Chairman Effective June 1, 2017
COO Richard Goudis to Succeed Johnson as
CEO
Global nutrition company Herbalife Ltd. (NYSE: HLF) (“Herbalife
Nutrition” or “the Company”) today announced that consistent with
the Company’s planned succession strategy, Michael O. Johnson,
Herbalife Nutrition’s chief executive officer (CEO) since 2003 and
chairman since 2007, will transition to the role of executive
chairman of the Company, effective June 1, 2017. At that time,
Richard P. Goudis, currently chief operating officer (COO), will
succeed Mr. Johnson as CEO.
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Herbalife Nutrition's chief operating
officer, Richard P. Goudis (Right in picture) will become CEO of
Herbalife Nutrition when current chairman and CEO, Michael O.
Johnson (Left in picture) transitions to executive chairman on June
1, 2017 (Photo: Business Wire)
“Over the past 13 years, Michael’s incredible vision, leadership
and passion for Herbalife Nutrition’s mission have strengthened the
Company’s global leadership, expanding our positive impact on the
health and wellness of millions of people in more than 90
countries,” said Jeffrey T. Dunn, lead independent director of
Herbalife Nutrition’s Board of Directors. “Michael has skillfully
led the Company through a period of significant expansion,
quadrupling annual net sales from $1.1 billion to $4.5 billion over
the course of his tenure and deepening relationships with
distributors and customers around the world. As we move through
this planned leadership transition process, we look forward to
Michael’s ongoing involvement with the Company as executive
chairman, where his talents, experience and judgment will continue
to help guide the Company and deliver value for shareholders.”
“It is a privilege to lead this remarkable company and work with
our extraordinary management team, employees and distributors to
reach the position of strength we are in today,” said Mr. Johnson.
“Our mission of improving people’s nutrition and health is what
attracted me to Herbalife Nutrition more than 13 years ago, and I
am extremely proud that we have made incredible strides in bringing
our mission to bear around the globe. I look forward to continuing
to advocate the importance of good nutrition, which is at the heart
of my new role.”
In addition to quadrupling sales, the Company expanded its
operations significantly during Mr. Johnson’s tenure and now does
business in 94 countries around the world. Herbalife Nutrition’s
product portfolio also increased considerably under Mr. Johnson’s
leadership as did the R&D function which has grown to include
more than 300 scientists and Ph.D.s. In addition, Mr. Johnson’s
vision drove many of the Company’s key marketing initiatives,
namely the sponsorship of more than 190 athletes and teams around
the globe including the Los Angeles Galaxy soccer team, soccer
sensation Cristiano Ronaldo and cricket superstar Virat Kohli. An
endurance athlete, Mr. Johnson is also responsible for leading the
development and introduction of the Herbalife 24 line of sports
nutrition products, used by elite athletes around the globe.
Mr. Dunn continued, “We are thrilled to name Rich Goudis as
Herbalife Nutrition’s next CEO. Rich has more than 18 years of
experience in the nutrition industry, including leadership roles at
Rexall Sundown and GNC, and has been an integral part of Herbalife
Nutrition’s management team for 12 years. As Herbalife Nutrition’s
CFO from 2004 to 2009 and COO since 2010, Rich has continuously
proven to be among the most visionary, effective and productive
leaders in the nutrition industry. We are confident the Company
will continue to thrive under Rich’s leadership and are excited
about the future.”
“Rich and I have worked side by side for more than a decade, and
I’ve witnessed firsthand his extraordinary integrity, judgment and
passion for making Herbalife Nutrition a great company,” said Mr.
Johnson. “The Board and I have full confidence in his ability to
lead Herbalife Nutrition well into the future and ensure the
Company’s momentum continues.”
Commenting on his appointment, Mr. Goudis said, “I am honored by
the trust the Board has placed in me to lead this great company
into the future. As a leading nutrition company, we have shown our
ability to continuously innovate by bringing new products to market
and improving the customer and distributor experience. I look
forward to building upon this strong foundation and working with
our employees and distributors as we continue to bring quality
nutrition to people around the world.”
As COO of Herbalife since 2010, Mr. Goudis has been responsible
for Worldwide Manufacturing Operations, Product Development,
Quality, Supply Chain, Human Resources, Information Technology,
Security and regional Finance and operations functions. During this
time, the Company expanded its Herbalife Innovation and
Manufacturing (H.I.M.) facilities to five locations around the
world and now manufactures more than 70 percent of all products
in-house, ensuring the highest levels of quality control. Under Mr.
Goudis’ management, Herbalife Nutrition also grew its employee base
to more than 8,000 people worldwide. Prior to his role as COO, Mr.
Goudis served as the Company’s chief financial officer for six
years.
In a separate announcement this afternoon, the Company reported
its third quarter 2016 financial results. The press release can be
found here http://ir.Herbalife.com.
About Herbalife Ltd.
Herbalife is a global nutrition company that has been changing
people’s lives with great products since 1980. Our nutrition,
weight-management, energy and fitness and personal care products
are available exclusively to and through dedicated Herbalife
independent distributors in more than 90 countries. We are
committed to fighting the worldwide problems of poor nutrition and
obesity by offering high-quality products, one-on-one coaching with
an Herbalife distributor and a community that inspires customers to
live a healthy, active life.
We support the Herbalife Family Foundation (HFF) and its Casa
Herbalife programs to help bring good nutrition to children in
need. We also sponsor more than 190 world-class athletes, teams and
events around the globe, including Cristiano Ronaldo, the LA Galaxy
and champions in many other sports.
The company has over 8,000 employees worldwide, and its shares
are traded on the New York Stock Exchange (NYSE: HLF) with net
sales of $4.5 billion in 2015. The Herbalife website contains a
significant amount of financial and other information about the
company at http://ir.Herbalife.com. The company encourages
investors to visit its website from time to time, as information is
updated and new information is posted. To learn more, visit
Herbalife.com or IAmHerbalife.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161101006764/en/
Herbalife Ltd.Alan Hoffman, Megan
Jordan213-745-2931media@herbalife.com
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