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Herbalife president to become vice chair; new co-presidents, CFO named


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Herbalife president to become vice chair; new co-presidents, CFO named

Des Walsh, the president of California-based nutrition and personal care products maker Herbalife Ltd., will be stepping down from his role to become the company's executive vice chairman, according to a Feb. 22 SEC filing.

CFO John DeSimone and Chief Health and Nutrition Officer John Agwunobi will succeed Walsh as co-presidents. DeSimone was also named chief strategic officer.

Shin-Shing Bosco Chiu, Herbalife's senior vice president and principal accounting officer, will replace DeSimone as CFO.

Prior to his new appointments, DeSimone held the roles of senior vice president of the finance and distributor operations as well as the corporate financial planning and analysis division.

Agwunobi, on the other hand, will remain the company's chief health and nutrition officer, a position he has held since February 2016. He was a senior vice president and the president of Walmart Inc.'s health and wellness department from 2007 to 2014, before becoming an advisor to Shopko Stores Operating Co. LLC and a member of a panel at Leavitt Partners LLC.

All appointments will take effect May 1.