trending Market Intelligence /marketintelligence/en/news-insights/trending/cka-RFDWjW2h9RSukvlQGg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Herbalife CEO resigns following comments 'inconsistent' with company standards

Amazon e-commerce sales soar amid COVID-19

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Herbalife CEO resigns following comments 'inconsistent' with company standards

Herbalife Nutrition Ltd. CEO Richard Goudis resigned on Jan. 8 after the company discovered comments he made that go against its expense-related policies and business practices.

According to a company release, Goudis' comments, which were made prior to his role as CEO but recently came to light, "were inconsistent with Herbalife Nutrition's standards and do not reflect the company's culture." The company did not disclose the comments.

Herbalife said Executive Chairman Michael Johnson will reassume the role of CEO on a temporary basis. Johnson held the role from 2003 to 2017.

The board expects to name a CEO from the company's senior leadership team.

Under a separation agreement between Herbalife and Goudis, the departing CEO will receive $3.5 million from the company, but he is not allowed to compete against Herbalife through Dec. 31. He is also prohibited from disparaging or making negative comments about the company.

In addition, Goudis agreed to cooperate with any internal or external investigations.

In the announcement, the global nutrition company affirmed its full-year 2019 guidance and added that its preliminary fourth-quarter 2018 volume point results were up 11.6% year over year.