Nu Skin CEO to Leave for Role in Mormon Church
December 07 2016 - 9:30AM
Dow Jones News
Nu Skin Enterprises Inc. said Wednesday that Chief Executive and
President Truman Hunt will leave the company in mid-2017, after
about 17 years in the role, to take a three-year leadership
assignment with the Church of Jesus Christ of Latter-day
Saints.
Mr. Hunt has led the Utah-based company for the majority of its
32-year history since its founding in 1984. The company said
current Chief Financial Officer Ritch Wood will become CEO when Mr.
Hunt leaves, and a new CFO will be named before Mr. Wood takes the
CEO role. President of Global Sales and Operations Ryan Napierski
will become the new president of the company.
At a conference for investors, the beauty and wellness products
company said it now expects fourth-quarter earnings per share to be
"near the high end" of the guidance provided last month of 77 cents
to 81 cents, compared with the 79 cents expected by analysts polled
by Thomson Reuters.
Still, revenue is now expected to be near the low end of its
previous outlook of $550 million to $570 million, compared with the
Wall Street consensus of $574 million.
For 2017, Nu Skin expects earnings between $3.10 and $3.25 per
share on revenue of $2.26 billion to $2.3 billion, compared with
analysts' expectations of $2.97 per share on $2.25 billion in
revenue.
The stock, inactive in premarket, has climbed 36% so far this
year.
Write to Imani Moise at imani.moise@wsj.com
(END) Dow Jones Newswires
December 07, 2016 09:15 ET (14:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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