Tag Archive for Michael Johnson

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Herbalife CEO Michael Johnson To Step Down Next Year

by Ted Nuyten • November 2, 2016 • 0 Comments

Herbalife Nutrition Announces CEO Transition Plan, chairman and CEO Michael Johnson to Become Executive Chairman Effective June 1, 2017, COO Richard Goudis to Succeed Johnson as CEO.
Global nutrition company Herbalife Ltd. announced that consistent with the Company’s planned succession strategy, Michael O. Johnson, Herbalife Nutrition’s chief executive officer (CEO) since 2003 and chairman since 2007, will transition to the role of executive chairman of the Company, effective June 1, 2017.
At that time, Richard P. Goudis, currently chief operating officer (COO), will succeed Mr. Johnson as CEO.

Herbalife Nutrition’s chief operating officer, Richard P. Goudis (Right in picture) will become CEO of Herbalife Nutrition when current chairman and CEO, Michael O. Johnson (Left in picture) transitions to executive chairman on June 1, 2017 (Photo: Business Wire)

“Over the past 13 years, Michael’s incredible vision,

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Top Member Of Herbalife’s Legal Team Leaves Company

by Tina Williams • August 6, 2015 • 0 Comments

The NY Post reports: A top member of Herbalife’s legal team has left the building.
Jim Berklas, who was the associate general counsel and chief compliance officer of the Los Angeles company, on Monday joined the Barnes Group, a Connecticut aviation company.
Berklas spent seven years with the diet shake seller that activist Bill Ackman has bet $1 billion is a pyramid scheme.
Herbalife has vehemently denied the accusation.
The exit of Berklas comes less then three months after Herbalife disclosed a criminal probe into its business practices and said a number of top executives and distributors have been subpoenaed by the Department of Justice.
At least one of those distributors, a veteran member of its 60-person “Chairman’s Club,” has become a whistleblower with law enforcement, The Post has learned.
Berklas is the first senior exec to leave Herbalife

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Herbalife Reports Quarterly Revenue At $1.11 Billion – Beating Wall Streets Expectations

by Tina Williams • May 5, 2015 • 0 Comments

Nathan Vardi at Forbes reports:
Herbalife , the controversial nutritional supplements seller, delivered a blow to its adversaries on Tuesday by reporting first-quarter earnings that suggested its business model was not as broken as some had predicted.
Herbalife reported that in the first three months of 2015 it earned $1.29 per share on an adjusted basis, beating consensus estimates on Wall Street that had called for the company to earn $1.01 per share, the bottom of the company’s first quarter earnings guidance of $1.00 to $1.10 per share.
In addition to the earnings beat, the company raised its earnings per share guidance for 2015 to a range of $4.30 to $4.60 per share. The previous range Herbalife had given investors was $4.10 to $4.50 per share. Herbalife posted revenue of $1.11 billion in the first quarter of 2015,

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Very Few Herbalife Distributors Stake Claim In Herbalife Lawsuit

by Tina Williams • April 30, 2015 • 0 Comments

In a recent pyramid scheme lawsuit that Herbalife Ltd. agreed to settle, few distributors who received notice of the US $17.5 million agreement filed claims to recuperate their losses and obtain product refunds.
Although notices were sent to more than 1.5 million individuals, fewer than 7,300 claims were filed, court records showed. The average claimant who meets certain criteria will receive roughly $1,100 from a $15-million cash settlement fund, according to court documents filed this month.
The claims rate of 0.47 percent “is a clear red flag that the class notice program was inadequate and unfair,” Douglas Brooks, a Massachusetts-based lawyer who represented 18 distributors objecting to the settlement, wrote in April 20 court papers.

Herbalife’s outside legal team on Monday countered that the majority of class members who declined to file a claim “confirmed the integrity of

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Herbalife Unveils Massive Public Relations Blitz In Response To Critics

by Tina Williams • March 30, 2015 • 0 Comments

LA Times reports: Amid relentless attacks on its business model, Los Angeles nutritional products company Herbalife Ltd. is firing back at its critics with its first Southern California television advertisements in more than a decade.
With a big rally in downtown Los Angeles, the company kicked off a massive public relations campaign that portrays its products as effective in helping users lose weight and stay fit.
Herbalife has traditionally shied away from expensive television advertising, instead relying on its independent salespeople to spread the word about its weight-loss and nutrition products through personal contacts. It also promotes the company through a variety of sponsorships, including the Los Angeles Galaxy soccer team.
But the company decided to change its strategy as activist investor Bill Ackman continued his two-year, high-profile attack on the company’s business practices.
Ackman has

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Herbalife Chairman And CEO Increases His Personal Share Holding In The Company

by Tina Williams • November 26, 2014 • 0 Comments

Global nutrition company, Herbalife (NYSE: HLF), today announced that Michael Johnson, Herbalife’s chairman and CEO, has engaged in a net exercise transaction involving 750,000 stock options that were granted to him in December 2004 and were due to expire in December 2014.
Because of his complete confidence in the continued and future success of the company, Mr. Johnson has decided that he will hold all the shares issued on exercise of the option, which will be the total amount, net of those necessary to cover the exercise price and any taxes related to the transaction.
About Herbalife Ltd.
Herbalife is a global nutrition company that has been changing people’s lives with great products since 1980. Our nutrition, weight-management, energy and sports and personal care products are available exclusively to and through dedicated Independent Herbalife Members in more than 90 countries.
We are committed to fighting the worldwide problems of poor nutrition and excess weight by offering high-quality products, one-on-one coaching with an Herbalife Member and a community that inspires customers to live a healthy, active life.
We support the Herbalife Family Foundation (HFF) and its Casa Herbalife Program to help bring good nutrition to children in need. We also sponsor more than 250 world-class athletes, teams and events around the globe, including Cristiano Ronaldo, the LA Galaxy and champions in many other sports.
The

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Ackman Says “My Bad” On Herbalife Presentation

by Tina Williams • August 1, 2014 • 0 Comments

Hedge fund manager Bill Ackman has two words to sum up his Herbalife Ltd. (HLF) presentation last week: “My bad.”
Investors may have missed the point because the event was long and overhyped, Ackman said in an interview. Even the private researcher who helped convince Ackman the company is an illegal pyramid scheme now says the details of a two-year investigation into Herbalife’s nutrition clubs were largely ignored.
Ackman had promised to show an Enron-style fraud during the event. Instead of dumping the stock, investors sent the shares up 25 percent after the presentation, marking the biggest one-day gain in the history of the company. Ackman’s firm, Pershing Square Capital Management LP, bet $1 billion against the stock in 2012.
“It was a PR failure,” Ackman said. “I think we raised expectations. People were looking for the dead body and the smoking gun and instead what they got was a three-hour detailed regulatory presentation.”
The shares declined 6.1 percent to $52.40 at the close in New York.
Lost amid the earlier share gain was research that offers evidence of an elaborate and secretive illegal recruiting system, said Christine Richard, a former journalist who helped Ackman present material at the New York event.
William “Bill” Ackman, founder and chief executive officer of Pershing Square Capital