Dr. John Agwunobi to Become CEO, John DeSimone
to Become President, in March 2020
Michael Johnson to Remain Chairman of the
Board
The Board of Directors of Herbalife Nutrition Ltd. (NYSE: HLF)
today announced that John Agwunobi, Co-President and Chief Health
and Nutrition Officer, will become Chief Executive Officer,
effective March 30, 2020. At that time, John DeSimone, Co-President
and Chief Strategic Officer, will become President. Michael
Johnson, who is serving as CEO on an interim basis, will remain
Chairman of the Board of Directors.
“With an accomplished and unique background as a physician,
public health official and business leader, Dr. Agwunobi embodies
our company’s vision, values and nutrition philosophy,” said Mr.
Johnson. “He has been an integral part of our business, from
customer and distributor experiences to product development, and I
am confident he has the vision, skills and experience necessary to
lead this great Company into the future. I look forward to working
closely with him throughout the transition and in my capacity as
Chairman.”
John Agwunobi, M.D., M.B.A., M.P.H., joined Herbalife Nutrition
as Chief Health and Nutrition Officer in 2016 and was named
Co-President in 2018. During his tenure, Dr. Agwunobi’s commitment
to innovation, quality and science-backed nutrition allowed the
Company to build on its reputation as a premier global nutrition
company. Dr. Agwunobi also led the Company’s efforts in expanding
its product portfolio and strengthening relationships with
distributors and customers to bring better nutrition, healthier
lifestyles and an entrepreneurial business opportunity to people
around the world.
“I am incredibly excited about the opportunities ahead for
Herbalife Nutrition. Thanks to the dedication and commitment of our
independent distributors and employees, we are changing millions of
people’s lives by helping them improve their nutrition with proven,
great-tasting products and personalized support, while also
providing our distributors the opportunity to be an entrepreneur,”
said Dr. Agwunobi. “Our business is strong and our future is
bright, and I look forward to continuing on our positive trajectory
for the benefit of our distributors, their customers, employees and
shareholders.”
Dr. Agwunobi added, “On behalf of the entire Herbalife Nutrition
community, I want to thank Michael for his vision, leadership and
dedication to our company and look forward to his continued
contributions as Chairman of the Board.”
Mr. DeSimone joined Herbalife Nutrition in 2007 as Senior Vice
President, Finance and then served as Chief Financial Officer for
eight years before being named Co-President and Chief Strategic
Officer in 2018. As Chief Financial Officer, DeSimone had global
responsibility for all financial departments including accounting,
tax, treasury, strategic planning, and investor relations for the
Company's business around the world as well as heading the
Company’s member compliance and insights groups.
In his most recent role, he managed the Company’s regional
leadership, who are responsible for growing the Company's premier
nutrition business and driving performance in more than 94
countries around the globe.
Mr. Johnson added, “John DeSimone is a proven leader with an
extraordinarily deep knowledge of our business, having spent more
than a decade in leadership positions at Herbalife Nutrition. We
are fortunate to have him serve as our President, partnering with
the leadership team to drive our strategy, execute on our long-term
growth plans and help further our mission.”
Mr. DeSimone said, “I have a deep connection to Herbalife
Nutrition and everything this great company stands for, and I am
eager for us to continue to unlock the tremendous opportunities
that lie ahead. Working closely with my friend and colleague Dr.
Agwunobi, along with our extraordinary team, we will continue to
grow our business and help even more people around the globe pursue
healthy, active lifestyles and a unique entrepreneurial
opportunity.”
In a separate announcement this afternoon, the Company reported
its third quarter 2019 financial results. The press release can be
found at https://ir.herbalife.com/press-releases.
About Dr. John Agwunobi
Prior to joining Herbalife Nutrition, Dr. Agwunobi brought a
wealth of experience from both the public and private sectors. Most
notably, from 2005-2007, he served as the Assistant Secretary of
Health for the U.S. Department of Health and Human Services. During
his term, he was responsible for disease prevention and health
promotion. He oversaw the Centers for Disease Control, National
Institutes of Health, the Food and Drug Administration, the office
of the U.S. Surgeon General, and numerous other public health
offices and programs.
In the private sector, Dr. Agwunobi served as Senior Vice
President and President of Health and Wellness for Walmart in the
United States where he helped grow the business and provided
insight and advice on health reform positions, public health
advocacy, health nutrition, employee wellness and emergency
response.
Dr. Agwunobi has a broad educational background that includes a
master's in public health from Johns Hopkins University and a
master's in business administration from Georgetown University. Dr.
Agwunobi completed his pediatric residency at Howard University and
is currently a licensed physician in Florida and Maryland.
About John DeSimone
Mr. DeSimone has more than 25 years of experience in the
corporate finance sector. Prior to joining Herbalife Nutrition, he
served as the controller, vice president of finance and chief
financial officer of publicly traded Rexall Sundown, Inc., a
multinational manufacturer of nutritional supplements and sports
nutrition products.
DeSimone is on the board of trustees of the California Science
Center which provides support for exhibits and education programs.
He served as co-chair for the 21st annual discovery ball which
raised more than 2 million dollars.
He earned a bachelor of science in business administration at
Bryant College which is now Bryant University.
About Herbalife Nutrition Ltd.
Herbalife Nutrition is a global company that has been changing
people's lives with great nutrition products and a proven business
opportunity for its independent distributors since 1980. The
Company offers high-quality, science-backed products, sold in over
90 countries by entrepreneurial distributors who provide one-on-one
coaching and a supportive community that inspires their customers
to embrace a healthier, more active lifestyle. Through the
Company’s global campaign to eradicate hunger, Herbalife Nutrition
is also committed to bringing nutrition and education to
communities around the world.
For more information, please visit
IAmHerbalifeNutrition.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.
Forward Looking Statements
This release contains forward-looking statements within the
meaning of the federal securities laws. All such statements in this
release, other than statements of historical fact, are
forward-looking statements and include, among other things,
statements about our expectations, beliefs, intentions and/or
strategies for the future. Words such as “expect,” “intend,”
“will,” “plan,” “anticipate,” “believe,” “we are confident that,”
“forecast,” “guidance,” “outlook,” “goals,” and similar expressions
are intended to identify forward-looking statements.
These forward-looking statements could include but are not
limited to statements related to our expectations generally
regarding our positioning, future business performance and
financial results. Our actual results could differ materially from
any forward-looking statements due to numerous factors that involve
substantial known and unknown risks and uncertainties. These risks
and uncertainties include, among other things, the risk factors set
forth in our most recent quarterly report on Form 10-Q and other
risks discussed in any of our subsequent reports filed with the SEC
from time to time, all of which are expressly incorporated herein
by reference.
We base our forward-looking statements on information available
to us on the date of this release, and we undertake no obligation
to update or revise any forward-looking statements, whether as a
result of changed circumstances, new information, future events or
otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20191029006067/en/
Media Contact: Jennifer Butler VP, Media Relations
213.745.0420
Investor Contact: Eric Monroe Director, Investor
Relations 213.745.0449
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