Herbalife Nutrition Ltd. announced that effective immediately, Michael O. Johnson, the company’s executive chairman, will reassume the role of CEO.
The Board of Directors of Herbalife Nutrition Ltd. Made the announcement that Johnson will serve on an interim basis following the resignation of current CEO Richard Goudis.
Johnson, who led the company as its chief executive officer from 2003 to 2017, will oversee the operations, 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.
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 percent worldwide from the same period in 2017 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.