Herbalife's chief executive officer resigns

Herbalife's chief executive officer resigns
Michael Johnson has been appointed chief executive officer on an interim basis

10 January 2019 - Deborah Wilkes

Herbalife Nutrition said its chief executive officer Richard Goudis had resigned following comments that were "inconsistent" with its standards and "do not reflect the company's culture".

The resignation was "not due to any issues regarding the company's financial reporting", stressed the US-based company.

Herbalife Nutrition said the comments – which were made prior to Goudis becoming chief executive officer but had recently come to light – were "contrary to the company's expense-related policies and business practice".

The company's executive chairman Michael Johnson has been appointed chief executive officer on an interim basis. Johnson was chief executive officer from 2003 until 2017.

Herbalife Nutrition said it expected to choose the new chief executive officer from the existing leadership team.

The direct-selling company sells weight-management, nutrition and personal care products in more than 90 countries through a network of independent members.

It reported sales of USD1.24 billion in the third quarter of 2018, representing a rise of 14.5% compared to the same period a year earlier.

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