Full Press Release Details
Herbalife Nutrition Announces Michael O. Johnson Will Reassume The Role of Chief
Executive Officer On An Interim Basis Following The Departure of CEO Richard Goudis
LOS ANGELES (January 8, 2019) The Board of Directors of Herbalife Nutrition Ltd. ( Board ) announced today that effective immediately,
Michael O. Johnson, the Company s Executive Chairman, who led Herbalife Nutrition Ltd. ( Company ) as its Chief Executive Officer from 2003 to 2017, will reassume the role of Chief Executive Officer on an interim basis following the
resignation of current CEO Richard Goudis.
Mr. Johnson will oversee the operations of the Company, along with other senior executives, and continue
to drive Herbalife Nutrition s strong performance and growth trajectory. Pursuant to the Board s succession plan, and to ensure an effective and orderly transition to a permanent CEO in the future, the Board expects to select the permanent
CEO from the Company s proven senior leadership team.
Mr. Goudis departure is not due to any issues regarding the Company s
financial reporting, but pertains to comments which recently came to light, made by Mr. Goudis prior to his role as CEO, that are contrary to the Company s expense-related policies and business practices. The comments made were
inconsistent with Herbalife Nutrition s standards and do not reflect the Company s culture.
The Company today also announced preliminary volume
point results for the fourth quarter 2018 which were up 11.6% worldwide from the same period in 2017(1)(2) and reaffirmed its initial full year
2019 guidance as announced on October 30, 2018, thereby demonstrating the Company s consistent and continued confidence in the business moving forward.
About Herbalife Nutrition Ltd.
Herbalife Nutrition is a global nutrition company whose purpose is to make the world healthier and happier. The Company has been on a mission for nutrition
changing people s lives with great nutrition products and programs since 1980. Together with our Herbalife Nutrition independent distributors, we are committed to providing solutions to the worldwide problems of poor nutrition and
obesity, an aging population, skyrocketing public healthcare costs and a rise in entrepreneurs of all ages. Herbalife Nutrition offers high-quality, science-backed products, most of which are produced in Company-operated facilities, one-on-one coaching with an Herbalife Nutrition independent distributor, and a supportive community approach that inspires customers to embrace a healthier, more active
Herbalife Nutrition s targeted nutrition, weight-management, energy and fitness and personal care products are available exclusively to
and through its independent distributors in more than 90 countries. Through its corporate social responsibility efforts, Herbalife Nutrition supports the Herbalife Nutrition Foundation (HNF) and its Casa Herbalife programs to help bring good
nutrition to children in need. Herbalife Nutrition is also proud to sponsor more than 190 world-class athletes, teams and events around the globe.
Herbalife Nutrition has approximately 8,300 employees worldwide, and its shares are traded on the New York Stock Exchange (NYSE: HLF) with net sales of
approximately $4.4 billion in 2017. To learn more, visit Herbalife.com or IAmHerbalife.com.
Herbalife Nutrition also encourages
investors to visit its investor relations website at ir.herbalife.com as financial and other information is updated and new information is posted.
Herbalife Nutrition Ltd.
Media: Jennifer Butler
Investor Relations: Eric Monroe
FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements within the meaning of the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of
our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference
in our filings with the Securities and Exchange Commission. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking
statements include, among others, the following:
We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report
any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.