Herbalife International
October 31, 2022
Herbalife Nutrition said Dr. John Agwunobi stepped down as chairman, chief executive officer and a member of the board effective October 27, 2022. The company said his departure was not the result of any disagreement. Former chief executive Michael O. Johnson was named chairman and interim CEO.
Johnson previously led Herbalife as CEO from 2003 to 2017 and again from 2019 to 2020, and served as chairman from 2007 to 2020. The board reduced its size from 11 to 10 directors. The company said it expects to name a permanent chief executive in 2023.
Lead independent director Alan LeFevre said Johnson's experience and relationships with distributors make him well suited to guide the company while it works to return to growth.