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Herbalife Nutrition Announces Leadership Change

October 31, 2022 4:01pm EDT

Longtime Herbalife Nutrition Executive Michael O. Johnson Named Chairman of the Board and Interim Chief Executive Officer

The Board of Directors of Herbalife Nutrition (“Board”) announced that Michael O. Johnson, current member of the Board and the former Chairman and CEO of Herbalife Nutrition (“Company”), has been named Chairman and interim Chief Executive Officer, succeeding Dr. John Agwunobi, who is departing the company.

The Company expects to name a new CEO in 2023.

Mr. Johnson brings more than 40 years of experience leading multi-national corporations, including close to two decades of leading Herbalife Nutrition. Known for his deep expertise in building brands, Mr. Johnson has a proven track record in innovation, motivation, and growth.

“Michael’s vision, intellect and passion for Herbalife Nutrition make him uniquely qualified to lead Herbalife at this time,” said Alan LeFevre, lead independent director of Herbalife Nutrition’s Board of Directors. “His past success of growing the business, combined with his relationships with the Company’s independent distributors, experienced management team, employees and investors, will help the Company accelerate growth and unlock additional opportunities.”

“I have been fortunate to be a part of this iconic brand for close to two decades and I am excited for the opportunities ahead. For more than 40 years, Herbalife Nutrition has been transforming people’s lives by providing them with personalized nutrition and an economic opportunity that is the best in the industry. This commitment to improving communities around the globe is needed now more than ever and while we are proud of our past, we are even more excited about our future,” said Mr. Johnson. “We have hard work ahead of us, but our entrepreneurial and successful business model is resilient, our independent distributors are a powerful engine for continued growth and our dedicated employees are motivated and committed.”

Mr. LeFevre continued, “On behalf of all of us at Herbalife Nutrition, we thank Dr. Agwunobi for his service and commitment to the Company over the past seven years and wish him success in his personal and professional endeavors.”

In a separate press release, today the Company also is announcing third quarter 2022 earnings results. That press release can be found at https://ir.herbalife.com/.

About Michael O. Johnson

Michael O. Johnson is an accomplished business leader with extensive experience expanding companies globally and spearheading successful business transformations. He served as CEO of Herbalife Nutrition from 2003 to 2017, Chairman from 2007 to early 2020, and CEO from 2019 to early 2020. During Mr. Johnson’s tenure as CEO of Herbalife Nutrition, the Company quadrupled sales and expanded its operations around the world from 58 to 95 markets. Under Mr. Johnson’s leadership, Herbalife Nutrition’s product portfolio and R&D function significantly increased, including the development and introduction of the Herbalife24 line of sports nutrition products. Additionally, he drove many of the Company’s key marketing initiatives, including the sponsorship of more than 200 athletes and teams around the globe.

As a member of the Board of Directors, his deep understanding of Herbalife Nutrition, independent distributors, and customers is invaluable for the future growth and development of the Company. Mr. Johnson brings decades of experience in corporate leadership and governance, as well as expertise in product innovation and marketing.

Prior to Herbalife Nutrition, Mr. Johnson led multiple departments of Walt Disney as president of those divisions, including Walt Disney International, Walt Disney Asia, and the Worldwide Home Entertainment division of Walt Disney Studios. Before joining Disney, Mr. Johnson gained extensive experience in the publishing industry including a management position at Time Inc. in the early 1980s.

About Herbalife Nutrition Ltd.

Herbalife Nutrition (NYSE: HLF) is a global company 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 95 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. Through the Company’s commitment to nourish people, communities and planet, Herbalife Nutrition pledges to achieve 50 million positive impacts – tangible acts of good – by 2030, its 50th anniversary.

For more information, please visit iamherbalifenutrition.com.

Forward-Looking Statements

This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control. Additionally, many of these risks and uncertainties are, and may continue to be, amplified by the COVID-19 pandemic. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include the following:

We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.

Gary Kishner

Sr. Director, Public Relations



Source: Herbalife Nutrition Ltd.