- Significant signs for push-out forces
- After about 14 years on the job
- Laud and praise for Johnson
- Rich Goudis to take over
- Johnson will remain as executive chairman
(management-change.com) — Los Angeles, California, November 01, 2016 — Michael Johnson, chief executive of Herbalife, leaves. His departure is made public at an early stage. As announced by Herbalife Ltd. in a news release and in a regulatory filing published on Tuesday, November 01, 2016, Michael O. Johnson leaves the post as chief executive officer at the nutrition and weight management company after about 14 years on the job, effective June 01, 2017.
It is the end of an era.
Johnson’s duties are taken over by Rich Goudis, currently chief operating officer at Herbalife Ltd.
No reason given
In the announcement, Herbalife did not explicitly explain the reason for Johnson’s move, opening the door for speculation.
Johnson will remain as executive chairman at Herbalife
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.
Carl Icahn holds 18.3 percent stake
Carl C. Icahn reported an 18.3 percent stake in Herbalife Ltd. as of June 30, 2016. Carl Icahn is an activist shareholder.
On the job as CEO since 2003
Johnson has been the Chief Executive Officer of Herbalife International, Inc. and Herbalife Ltd., since April 2003.
Johnson has served as the Company’s Chief Executive Officer since 2003 and has served as Chairman of the Board of Directors of the Company since 2007.
Johnson has a track record of success as a leader.
Named chief executive officer (CEO) of 2003 and chairman in 2007, he sets the vision and strategy, and is the voice of Herbalife Nutrition to Independent Herbalife Members in more than 90 countries.
He oversees all aspects of the company’s global operations, ensures the company has the resources necessary to meet its goals and pursues profitability and growth to increase shareholder value.
Under Johnson’s leadership, the company has grown from 2003 net sales of $1.1 billion to $4.5 billion in 2015; introduced industry-leading standards in consumer protection; and built a global brand through its sponsorship of more than 200 teams, athletes and fitness events around the world, including the LA Galaxy and international soccer star Cristiano Ronaldo.
Johnson has strengthened Herbalife Nutrition’s product development and manufacturing through the development and execution of a Seed to Feed strategy that ensures rigorous quality standards and control of product integrity.
He has overseen significant investment in scientific areas of R&D, quality assurance, product safety and compliance; the creation of a more vertical supply chain; partnerships established with world-class ingredient suppliers and even farmers of key ingredients; and the building of a team of industry leading scientists and experts who innovate in the nutrition field, while maintaining a high standard of product quality.
Johnson is also chairman of the Herbalife Family Foundation (HFF), which is funded through donations from Herbalife Nutrition, its Members, employees, families and friends.
In 2005, HFF launched its worldwide Casa Herbalife Program to help bring good nutrition to vulnerable children – there are now more than 120 Casa Herbalife programs helping bring good nutrition to over 100,000 children around the world every day.
Outside the boardroom, Johnson is a fitness enthusiast and has been participating in triathlons and cycling races for more than 30 years.
He has encouraged Herbalife Members and employees to join with him in participating in triathlons, marathons, cycling and fitness events around the world.
Earlier in his career, Johnson spent 17 years with The Walt Disney Company where he served as president of Disney International.
Significant signs for push-out forces
It is not completely certain what forces eventually triggered Michael O. Johnson’s move.
The Push-out Score™ determined by management-change.com suggests significant signs for push-out forces that may have contributed to the management change.
Read the full story in the management-change.com report 41.2016 ($).