Nature's Sunshine Products Appoints Larry A. Deppe to Board of Directors
January 06 2006 - 1:53PM
Business Wire
Nature's Sunshine Products Inc. (NASDAQ:NATRE), a leading
manufacturer and marketer of encapsulated herbs and vitamins, today
announced the appointment of Larry A. Deppe as an independent
director and member of the Audit Committee. Mr. Deppe, a CPA, who
has over 35 years experience auditing and teaching accounting, is
currently Associate Professor of Accounting in the School of
Accountancy at Weber State University, Ogden, Utah. "Nature's
Sunshine is fortunate to have a man of Larry Deppe's broad
practical and academic experience in accounting join our Board,"
said Douglas Faggioli, President and CEO. He has not only practiced
accounting and lectured on the subject, but also has written
numerous professional papers, principally on financial and
managerial accounting and auditing. As a member of our Audit
Committee, his skills will prove highly valuable to our Company,
and we are delighted to welcome him as a Director." Mr. Deppe holds
both bachelors and masters degrees in accounting from Brigham Young
University, as well as a Ph.D. in business administration from the
University of Utah, where he majored in accounting and minored in
financial economics and research tools, as well as quantitative
methods. His published papers have appeared in numerous Accounting
journals, including the The Journal of Accountancy and The CPA
Journal, and he has also contributed to four textbooks. His areas
of research interest include financial and managerial accounting
and auditing. Prior to embarking on an academic career, Mr. Deppe
for eight years held various accounting posts with, Intermountain
Health care, the Office of the Utah State Auditor, Christensen,
Inc. and Arthur Young & Co., where he served as a Supervising
Senior Accountant and conducted Office Training Sessions. He has
audited clients in the mining, retail, healthcare and financial
services industries as well as state and municipal governments and
higher education. Active in professional affairs, Mr. Deppe served
two four-year terms as Chair of the Utah State Board of
Accountancy. He was the first person from academia to serve on this
board. Mr. Deppe also has served a two-year term as Treasurer of
the Utah Association of Certified Public Accountants, as well as
several committees of the association and the Institute of
Management Accountants. About Nature's Sunshine Nature's Sunshine
Products manufactures and markets through direct sales encapsulated
and tableted herbal products, high quality natural vitamins, and
other complementary products. In addition to the United States, the
Company has operations in Japan, Mexico, Central America, South
Korea, Canada, Dominican Republic, Venezuela, Ecuador, Peru, the
United Kingdom and Ireland, Colombia, Brazil, Thailand, Israel,
Singapore and Taiwan. The Company also has exclusive distribution
agreements with selected companies in Argentina, Australia, Chile,
New Zealand, Norway, and the Russian Federation. Statements in this
press release concerning the Company's business outlook or future
economic performance, anticipated profitability, revenues, expenses
or other financial items, and product line growth, together with
other statements that are not historical facts, are
"forward-looking statements" as that term is defined under Federal
Securities Laws. "Forward-looking statements" are subject to risks,
uncertainties and other factors, which could cause actual results
to differ materially from those set forth in such statements. Such
risks, uncertainties, and factors include, but are not limited to,
foreign business risks, industry cyclicality, fluctuations in
customer demand and order pattern, changes in pricing and general
economic conditions, as well as other risks detailed in the
Company's filings with the Securities and Exchange Commission. The
Company disclaims any obligations to update any forward-looking
statement as a result of developments occurring after the date of
this press release.
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