COPPELL, TX, Sep 01, 2005 (MARKET WIRE via COMTEX) -- Mannatech, Inc. (MTEX) today announced two new appointments to its senior management team that will further strengthen the Company's top talent and alignment with key growth objectives of international expansion and focus on proprietary technology.
Effective immediately, John Price joins the company as its new President of International Operations and Robert Sinnott, MNS, Ph.D. joins the company as Chief Science Officer and Vice President of R&D. John Price comes to Mannatech having previously worked at Herbalife, Incorporated (HLF), a $1.8 billion global nutritional company, where he served as Senior Vice President of Worldwide Administration. In his new capacity, John will spearhead Mannatech's international expansion to reach new markets and new customers as well as continue to grow the existing international businesses. Dr. Sinnott, founder of Larrea BioSciences Corporation (LRRA) and holder of five U.S. patents, will lead the development of innovative new healthcare products that fill a need in today's marketplace.
Both positions will report to Sam Caster, Mannatech's Chairman, Founder and CEO. Mr. Caster stated, "We are extremely pleased to have successfully attracted executives of the stature of John Price and Rob Sinnott. John brings great international experience and broad insight to our company, and we believe that he will add great impact to our international growth. We think that our international Associates will see John add value to their Mannatech businesses. We also welcome the arrival of Dr. Rob Sinnott to Mannatech. Rob's knowledge, experience and creativity make him the ideal person to aggressively pursue new breakthroughs in glyconutritional research."
John Price succeeds Jack Crowley, who resigned to pursue other interests, and Dr. Robert Sinnott succeeds Dr. Bill McAnalley, who retired and is pursuing private research for the company on a contractual basis.
As Senior Vice President of Worldwide Administration at Herbalife from 1997-2002, John Price opened profitable operations in Asia, Latin America, Europe and Africa in countries such as China, Brazil, the Czech Republic and South Africa. Mr. Price spent seventeen years from 1978-1995 with Eli Lilly and Company (LLY), where he attained the position of Vice President of Human Resources. John is a retired Navy Commander. He earned a BA in Psychology from the University of Washington and an MBA in Marketing from California Coast University.
Dr. Robert Sinnott, who brings twelve years of experience in biotechnology to his new position, was founder and served as Chief Technology Officer and Director of Larrea BioSciences Corporation, from 1996-2005. He was a founding team member and Chairman of Biotechnology and Agribusiness for the Arizona Agribusiness and Equine Sciences Center at South Mountain Community College from 1997-2003. Prior to that, Dr. Sinnott founded and served as Research Director for Gaiaventures, Ltd., a scientific consulting firm, from 1993-1996. Dr. Sinnott earned Bachelor of Science, Master of Science and Ph.D. degrees from Arizona State University.
About Mannatech, Incorporated
Mannatech, based in Coppell, Texas, is a wellness solutions provider that sells its products through a global network-marketing system throughout the United States and the international markets of Canada, Australia, the United Kingdom, Japan, New Zealand, the Republic of Korea, Taiwan and Denmark. For additional information about Mannatech, please visit its corporate Web site: www.mannatech.com.
Please Note: This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified generally by the use of phrases or terminology such as "may," "believes," and "will further" or other similar words or the negative of such terminology. Similarly, descriptions of Mannatech's objectives, strategies, plans, goals or targets contained herein are also considered forward-looking statements. Mannatech believes this release should be read in conjunction with all of its filings with the Securities and Exchange Commission and cautions its readers that these forward-looking statements are subject to certain events, risks, uncertainties, and other factors. Some of these factors include, among others, Mannatech's inability to attract and retain Associates and Members, increases in competition, litigation, regulatory changes and its planned growth into new international markets. Although Mannatech believes that its expectations, statements, and assumptions reflected in these forward-looking statements are reasonable, it cautions its readers to always consider all of the risk factors and any other cautionary statements carefully in evaluating each forward-looking statement in this release, as well as those set forth in its latest Annual Report on Form 10-K, and other filings filed with the Securities and Exchange Commission, including its current reports on Form 8-K. All of the forward-looking statements contained herein speak only as of the date of this release.