Herbalife Announces Executive Management Promotions

LOS ANGELES, Dec 16, 2009 (BUSINESS WIRE) -- Herbalife Ltd. Chairman and CEO Michael O. Johnson today announced three promotions on his executive management team that are effective January 1, 2010.

Des Walsh is being promoted to president, from his role as executive vice president, worldwide operations and sales. A member of the executive team since he joined in 2004, Walsh is responsible for the growth of our business by working closely with distributors to achieve greater access to and deeper penetration of Herbalife products throughout the world. He oversees all distributor-facing functions in each region where the company conducts business, including marketing, promotions, sponsorships, events, and distributor communications. Walsh has worked with Johnson for more than 14 years including while serving as vice president of The Walt Disney Company's Buena Vista Home Entertainment.

Rich Goudis, who joined the company as CFO in 2004, is being promoted to chief operating officer with responsibility for building and sustaining an infrastructure that allows the company to achieve its growth goals. His functional responsibility includes worldwide operations, human resources, and information technology, along with the back office functions in all the regions. Prior to Herbalife, Goudis was chief operating officer at Rexall Sundown and also had responsibility for General Nutrition Center (GNC) operations.

John DeSimone is being promoted to chief financial officer. Having joined Herbalife in November 2007, DeSimone first served as SVP, finance, and since 2008, distributor operations as well. His accomplishments include leading the company's acquisition of its first manufacturing facility, spearheading new country openings, and overseeing strategic planning, forecasting and budgeting. DeSimone previously served as CFO at Rexall Sundown.

"We have a strong and seasoned management team to lead the company and its almost two million distributors in a world where two of the most pressing problems are escalating health care costs, which are often related to obesity, and lack of jobs," said Johnson. "Herbalife offers healthy daily nutrition in place of unhealthy food choices and a proven business opportunity for part-time or full-time income."

The company will host an analyst and investor day in New York on Thursday, December 17 with Johnson and other members of Herbalife's management team to review the company's current business trends and outlook for 2010. In addition, to celebrate the fifth anniversary of the company's IPO, Johnson and a group of Herbalife Independent Distributors will ring the closing bell at the New York Stock Exchange that day.

In addition the company is reaffirming previously issued full year 2009 earnings and full year 2010 earnings per share guidance ranges of $3.19 - $3.22 and $3.50 -- $3.65, respectively.

The meeting will be webcast and available for replay in the investor relations section of Herbalife's Web site at www.Herbalife.com.

Suggested Herbalife Links: Facebook, Twitter

About Herbalife Ltd.

Herbalife Ltd. /quotes/comstock/13*!hlf/quotes/nls/hlf (HLF 40.76, -1.37, -3.25%) is a global network marketing company that sells weight-management, nutrition, and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 72 countries through a network of approximately 1.9 million independent distributors. The company supports the Herbalife Family Foundation and its Casa Herbalife program to help bring good nutrition to children. Herbalife's Web site contains a significant amount of information about Herbalife, including financial and other information for investors at http://ir.Herbalife.com. The company encourages investors to visit its Web site from time to time, as information is updated and new information is posted.

Disclosure Regarding Forward-Looking Statements

This document contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are "forward-looking statements" for purposes of federal and state securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements of belief; and any statements of assumptions underlying any of the foregoing. Forward-looking statements may include the words "may," "will," "estimate," "intend," "continue," "believe," "expect" or "anticipate" and any other similar words.

Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.