LOS ANGELES, Feb 21, 2005 (BUSINESS WIRE) -- Herbalife Ltd. (HLF) today announced the appointment of three new members to its board of directors -- Leroy T. Barnes, Jr., Richard Bermingham and Peter Maslen. These appointees will join the nine current members of the Board, which is chaired by Peter Castleman, president of Whitney & Co., LLC.
Leroy T. Barnes, Jr., 53, is vice president and treasurer of PG&E Corporation. In 2004, he led the largest-ever U.S. utility financing, PG&E's landmark $7 billion debt financing in connection with its plan of reorganization. Prior to PG&E, Barnes served as vice president and treasurer of Gap, Inc., where he led the company's first major public debt issuance and managed its $1 billion common stock repurchase program. Before joining Gap, Inc., Barnes held a number of executive positions at Pacific Telesis Group/SBC Communications. He played a principal role in engineering the company's spin-off of AirTouch, Inc., as well as the sale of Pacific Telesis to SBC Communications. Barnes served as chief financial officer of UC Press, and as a management consultant with Deloitte & Touche. He is a member of the board of directors of Longs Drug Stores Corporation, the McClatchy Newspaper Company and the California Endowment.
Richard Bermingham, 65, spent nearly three decades at what is now known as Worldwide Restaurants, ultimately serving as chief executive officer. This company resulted from a merger of Collins Foods International, the parent company of Sizzler Restaurants; Naugles Restaurants, the largest Kentucky Fried Chicken franchisee in the U.S.; and other various other restaurant interests with Sizzler International, Inc. At the time of the merger, Collins Foods/Sizzler had annual revenue in excess of $1 billion for 1,200 company and franchisee restaurants. After retiring from this company, Bermingham served as vice chairman of the board of American Golf Corporation, assisting in re-engineering the largest golf course management company in the U.S. Currently, he is president of Marlena Partners, a spec home builder in California. Bermingham serves on the board of directors of Interactive Health, Inc., Encanto Restaurants Inc., Jordano's, Inc, Missouri River Plastics, and Special Value Expansion Fund, LLC.
Peter Maslen, 53, is an international businessman with a career in fast-moving consumer goods and retailing. He most recently served as president of Starbucks Coffee International, where he led Starbucks' growth outside the U.S. from its initial start-up phase to a highly successful and well-established business in over 30 countries. Prior to joining Starbucks, Maslen served as president of Tricon Global Restaurants in Europe, with responsibility for the development and growth of the Pizza Hut, Kentucky Fried Chicken and Taco Bell brands throughout Western and Central Europe and former Soviet block countries. He began his career in this industry with Mars Incorporated, culminating as region director, Asia, when he was recruited to PepsiCo. Maslen is founder of the HansonMaslen Group in Seattle, and chairman of Fortress Pacific Limited. Maslen serves on the boards of several emerging companies -- bEqual, Bondi Lifesaver, and Cold Heat -- and is currently chairman of the Global Business Advisory Board at the University of Washington Business School.
Herbalife International is a global network marketing company that sells weight management, nutritional supplement and personal care products intended to support a healthy lifestyle. Herbalife products are sold in 59 countries through a network of more than one million independent distributors. The company will celebrate its 25th anniversary year with a worldwide distributor event in Atlanta, Georgia, April 14 -17, 2005.