USANA Health Sciences Announces CEO Transition Plan and Appoints Kevin Guest Chief Executive Officer
November 23 2016 - 5:10PM
Business Wire
USANA Health Sciences, Inc. (NYSE: USNA) today announced a CEO
transition plan. Dave Wentz has made the personal decision to step
down as Co-CEO and a member of the Board of Directors of the
Company. The Board of Directors has appointed current Co-CEO, Kevin
Guest, as CEO of the Company. The Company will no longer utilize a
Co-CEO management structure. The USANA Board of Directors now
consists of six directors, four of whom are independent.
Commenting on his transition, Mr. Wentz said, “I am grateful for
my long tenure with USANA and am proud of what we have accomplished
over the past 24 years. USANA has always been, and will remain, a
positive influence for so many lives, including my own, and I am
confident in the Company’s future under Kevin’s leadership. I am
looking forward to spending more time with my family and continuing
to advocate for the direct sales industry as Chairman of the Direct
Selling Education Foundation.”
Gilbert Fuller, Chairman of the Governance, Risk and Nominating
Committee of the Board of Directors, said, “Dave has made an
incredible contribution to our organization over the past two
decades. He has skillfully led the Company to multiple years of
record sales and customer growth and helped the Company navigate
both anticipated and unanticipated challenges. We are grateful for
his dedication and hard work in the many roles he has held with
USANA and wish him all the best going forward.”
Commenting on the appointment of Mr. Guest as CEO, Dr. Myron
Wentz, Chairman of the Board, noted, “We are pleased to name Kevin
Guest as CEO of USANA. Kevin has led USANA in a variety of roles
for more than 20 years, including President and most recently as
Co-CEO. In each role, Kevin has demonstrated sound leadership,
integrity and judgment. Perhaps most importantly, Kevin has earned
the trust, respect and admiration of countless USANA Associates,
customers and employees around the world as he has served them. On
behalf of the Board, we are grateful to Kevin for his great
commitment and leadership to USANA in its mission to improve the
health and nutrition of individuals and families around the
world.”
Kevin Guest commented, “I am honored by the trust and confidence
the Board of Directors has placed in me to lead USANA going
forward. Dave and I have worked side by side to achieve many goals
over the years, and I have the utmost respect for him. I also have
complete confidence in, and respect for, the leadership team we
have in place at USANA. Our team has talent and experience in each
of the key leadership positions and is committed to USANA’s
mission. As demonstrated by the Board’s recent decision to split
the stock, we are confident that the strategies we have in place
will help USANA achieve its long-term growth potential.”
About USANA
USANA develops and manufactures high-quality nutritional
supplements, healthy foods and personal care products that are sold
directly to Associates and Preferred Customers throughout the
United States, Canada, Australia, New Zealand, Hong Kong, China,
Japan, Taiwan, South Korea, Singapore, Mexico, Malaysia, the
Philippines, the Netherlands, the United Kingdom, Thailand, France,
Belgium, Colombia and Indonesia. More information on USANA can be
found at http://www.usanahealthsciences.com.
Safe Harbor
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act and Section 21E of
the Securities Exchange Act. Our actual results could differ
materially from those projected in these forward-looking
statements, which involve a number of risks and uncertainties,
including global economic conditions generally, reliance upon our
network of independent Associates, the governmental regulation of
our products, manufacturing and marketing risks, adverse publicity
risks, and risks associated with our international expansion. The
contents of this release should be considered in conjunction with
the risk factors, warnings, and cautionary statements that are
contained in our most recent filings with the Securities and
Exchange Commission.
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USANA Health Sciences, Inc.Investors contact:Joshua Foukas,
801-954-7823Investor
Relationsinvestor.relations@us.usana.comorMedia contact:Dan Macuga,
801-954-7280Public Relations
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