Nutrition company Herbalife Ltd. (NYSE: HLF) stated that consistent with the company’s planned succession strategy, Michael O. Johnson, Herbalife Nutrition’s chief executive officer since 2003 and chairman since 2007, will transition to the role of executive chairman, effective June 1, 2017. At that time, Richard P. Goudis, currently chief operating officer, will succeed Johnson as CEO.
“Over the past 13 years, Michael’s incredible vision, leadership and passion for Herbalife Nutrition’s mission have strengthened the company’s global leadership,” said Jeffrey T. Dunn, lead independent director of Herbalife Nutrition’s board of directors. “As we move through this planned leadership transition process, we look forward to Michael’s ongoing involvement with the company as executive chairman.”
“It is a privilege to lead this remarkable company and work with our extraordinary management team, employees and distributors to reach the position of strength we are in today,” said Johnson. “I look forward to continuing to advocate the importance of good nutrition, which is at the heart of my new role.”
As COO of Herbalife since 2010, Goudis has been responsible for worldwide manufacturing operations, product development, quality, supply chain, human resources, information technology, security and regional finance and operations functions. During this time, the company expanded its Herbalife Innovation and Manufacturing (HIM) facilities to five locations around the world and now manufactures more than 70 percent of all products in-house. Under Goudis’ management, Herbalife Nutrition grew its employee base to more than 8,000 people. Prior to his role as COO, Goudis served as the company’s CFO for six years.
“Rich and I have worked side by side for more than a decade, and I’ve witnessed firsthand his extraordinary integrity, judgment and passion for making Herbalife Nutrition a great company,” said Johnson. “The board and I have full confidence in his ability to lead Herbalife Nutrition well into the future and ensure the company’s momentum continues.”
Goudis said, “I am honored by the trust the board has placed in me to lead this great company into the future … I look forward to building upon this strong foundation and working with our employees and distributors as we continue to bring quality nutrition to people around the world.”
