Herbalife Appoints A Top Distributor, Stephan Gratziani, Chief Strategy Officer
02 August 2023 - 10:09PM
Business Wire
Herbalife Ltd. (NYSE: HLF), a premier health and wellness
company and community, today announced the appointment of Stephan
Paulo Gratziani to Chief Strategy Officer, effective August 4,
2023. Mr. Gratziani will report directly to Chairman and Chief
Executive Officer Michael Johnson and work closely with the
Company’s senior management team to implement and advance key
strategic initiatives, including the Herbalife One digital
technology platform and business verticals. He will also partner
with senior executive and regional leadership to enhance sales
training programs, promote distributor engagement, and identify
growth opportunities.
Mr. Gratziani brings over 32 years of experience to Herbalife as
an independent distributor with a proven track record of global
business growth. During his time as an independent distributor,
Gratziani expanded his Herbalife business to 70 markets across
North America, South America, Europe, and Asia. He was named to the
Company’s Chairman’s Club in 2010, and in 2018, he achieved the
highest distributor level of Founder’s Circle. Mr. Gratziani was
also recognized as one of Herbalife’s top 3 independent
distributors in the world for 2022. As a distributor leader, he has
been an integral member of various strategy and planning groups for
the Company and brings a strong analytics background and innovative
entrepreneurism.
Additionally, John DeSimone will transition from his position as
Chief Strategic Officer to Special Advisor to the Company.
“Through the tremendous business Stephan has grown across 70
markets as an independent distributor, he has proven himself as a
highly effective strategist,” said Michael Johnson, Chairman and
CEO. “We are looking forward to Stephan bringing his skillset and
distributor perspective to further innovate Herbalife as we
modernize and move towards our next chapter of growth.”
“After 32 years as an independent distributor focused on
building successful sales teams and processes around the world, I
am excited to be working closely with Michael and our talented
senior management team as we usher in a new era of Herbalife. We
have an incredible opportunity to grow our top-line as we further
align our Company’s strategy, culture and framework to support
distributors in growing their businesses,” said Stephan
Gratziani.
On August 1, 2023, Mr. Gratziani resigned from the Company’s
Board of Directors and agreed to become an employee of the Company
in the role of Chief Strategy Officer. As required by the Company’s
conflict of interest policy, Mr. Gratziani agreed to suspend his
Herbalife distributorship and waived any rights to his
distributorship earnings under the Company’s marketing plan during
the term of his employment with the Company through December 31,
2025. As a material inducement to Mr. Gratziani agreeing to become
employed by the Company, the Company will grant Mr. Gratziani an
award of stock appreciation rights with a grant date fair value of
$5,000,000 and a base share price as of August 4, 2023. In
addition, in exchange for suspending his distributorship, the
Company has agreed to pay to Mr. Gratziani a cash amount equal to
$4,753,994, payable in three installments.
As previously disclosed in the Company’s 2023 Annual Proxy
Statement, Mr. Gratziani earned approximately $5,059,398 in
compensation in 2022 under the Company’s marketing plan.
In a separate announcement this afternoon, the Company reported
second quarter 2023 financial results. The press release can be
found at https://ir.herbalife.com/press-releases.
About Herbalife Ltd.
Herbalife (NYSE: HLF) is a premier health and wellness company
and community that has been changing people's lives with great
nutrition products and a business opportunity for its independent
distributors since 1980. The Company offers science-backed products
to consumers in more than 90 markets through entrepreneurial
distributors who provide one-on-one coaching and a supportive
community that inspires their customers to embrace a healthier,
more active lifestyle in order to live their best life.
Forward-looking statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements rely on a number of assumptions
and estimates that could be inaccurate and which are subject to
risks and uncertainties. All statements other than statements of
historical or current facts, including statements regarding our
expected growth, integration strategy, business strategies and
future performance are forward-looking. Forward-looking statements
reflect management’s current expectations and are inherently
uncertain. Actual results could differ materially for a variety of
reasons. Risks and uncertainties that could cause our actual
results to differ significantly from management’s expectations are
described in our most recent annual report on Form 10-K and
subsequent SEC filings. We disclaim any obligation or intent to
update the forward-looking statements in order to reflect events or
circumstances after the date of this release.
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Media Contact: Gary Kishner Senior Director, Public Relations
213.745.0456
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Relations 213.745.0433
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