Herbalife Ltd. (NYSE:HLF) announced the official transition of Richard P. Goudis as the new Chief Executive Officer (CEO), in succession to Michael O. Johnson, who will now assume the position of Executive Chairman of the Company.
With his passions grounded in innovation, education and training, Goudis will set the strategy for Herbalife Nutrition, overseeing all aspects of the Company’s growth initiatives and ensuring the Company continues to be recognized worldwide as a leading nutrition company. Goudis will guide the overall Herbalife Nutrition business strategy in the 94 countries where the Company operates. He will also be responsible for strengthening and increasing the base of Independent distributors and consumers, as well as the development of new product lines with broad scientific support.
“This is an exciting time to be leading such a dynamic team of dedicated professionals who everyday position our company for further innovation and growth. Our talented global distributors bring innovative products to market that help customers live healthy, active lifestyles, truly making us the premier global nutrition company,” said Richard P. Goudis, CEO, Herbalife Nutrition.
Goudis, a recognized leader in the nutrition industry, has more than 18 years of experience in the field of nutrition with 13 years as part of the Herbalife Nutrition management team serving as COO since 2010 and CFO from 2004 to 2009. In his role as COO, he was responsible for building a global infrastructure that created competitive advantages including the oversight of worldwide manufacturing operations, product development, quality assurance and control, supply chain and strategic sourcing, warehousing and logistics, human resources, Information technology, security and safety, and regional finance and operations functions. During Goudis’ tenure as COO, the Company expanded its Herbalife Innovation and Manufacturing (H.I.M.) facilities to five locations around the world ensuring the highest levels of quality control for the company’s nutrition products. Under Mr. Goudis’ management, Herbalife Nutrition also grew its employee base to more than 8,000 people worldwide.
The Company’s competitive advantage and success in the nutrition industry is based on science and education – science-based products and the education provided to customers by its distributors otherwise known as the “Distributor Difference.” This difference has become more evident in recent years with retail stores closing at what seems to be an accelerated rate. The educated and trained distributors meet face-to-face with their customers, providing personalized nutrition and fitness services.
Newly appointed Executive Chairman Michael O. Johnson draws from his extensive working history with Goudis to say, “The Board and I could not have picked a more qualified candidate to lead this Company forward, we look forward to supporting him as he leads Herbalife Nutrition well into the future.”
Shares of Herbalife are currently trading at $73.42, up $1.64 or 2.28%. HLF has a 1-year high of $73.61 and a 1-year low of $47.62. The stock’s 50-day moving average is $66.73 and its 200-day moving average is $57.09.
Herbalife Ltd. is a global nutrition company. It offers science-based weight management products, nutritional supplements and personal care products intended to support a healthy lifestyle. The company operates through the following geographical segments: North America; Mexico; South & Central America; Europe, Middle East and Africa; Asia Pacific and China. Its products are categorized into four principal groups: weight management, targeted nutrition, energy, sports & fitness, and outer nutrition. The weight management products include meal replacement, protein shakes, drink mixes, weight loss enhancers and healthy snacks and its Outer nutrition products include facial skin care, body care and hair care.