NEWS IN BRIEF

Herbalife Nutrition appoints new lead board director

By Mary Ellen Shoup contact

- Last updated on GMT

Herbalife headquarters in Carson, CA, on Aug. 2, 2014. Getty Images / Wolterk
Herbalife headquarters in Carson, CA, on Aug. 2, 2014. Getty Images / Wolterk

Related tags: Herbalife

Herbalife Nutrition's board of directors has elected James Nelson (former CEO of the publicly-traded real estate investment trust Global Net Lease Inc.) as its new lead director, effective immediately.

Nelson is succeeding Jeffrey Dunn, who is retiring from the Herbalife's board of directors after ten years to devote more time to his new role as CEO of Bolthouse Farms (acquired by private equity firm Butterfly for $510m earlier this year). 

Nelson has served on Herbalife board of directors since 2014 and "has been a significant contributor to our board for the past five years,”​ said Michael Johnson, Herbalife Nutrition Chairman and CEO (who took over after former CEO Richard Goudis resigned​ in January 2019). 

“His keen understanding of our various industries and the financial markets, combined with his passion for Herbalife Nutrition, will help drive our continued growth and I look forward to his continued guidance as we move the Company forward,”​ Johnson continued. 

“On behalf of the entire Board, I would like to thank Jeff for his extraordinary service over the last 10 years. His leadership, dedication and commitment to our company has been invaluable."

 

Herbalife Nutrition recent financial performance

Herbalife reported a 10% rise in full-year net sales nearly reaching $5bn​, according to its year-end February 2019 earnings statement. In the first quarter of 2019, the global nutrition company reported net sales of $1.2bn, the highest first quarter volume growth in company history, it claimed.

“In the first quarter of 2019, the momentum of our geographically diverse business continued with net sales growth in four of our six regions. We are confident that our strategies will drive volume growth in 2019,”​ said Johnson. 

Herbalife will release its Q219 financial results​ on Aug, 1, 2019. 

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