Herbalife International
August 2, 2023
LOS ANGELES, August 2, 2023 --
Herbalife Ltd. said it appointed Stephan Paulo Gratziani, a longtime independent distributor and Founder's Circle member, as chief strategy officer effective August 4, 2023. Gratziani will report to chairman and chief executive Michael Johnson and help advance strategic initiatives including the Herbalife One digital technology platform, sales training, distributor engagement and growth opportunities.
John DeSimone will transition from chief strategic officer to special advisor. On August 1, 2023, Gratziani resigned from the company's board and agreed to suspend his distributorship and waive marketing-plan earnings during employment through December 31, 2025. As inducement, the company said it would grant stock appreciation rights with a 5 million dollar grant-date fair value and pay about 4.75 million dollars in cash installments tied to the suspended distributorship.
Johnson said Gratziani's distributor perspective would help innovate and modernize the company. The appointment was announced the same day as second-quarter 2023 results. Herbalife is listed in the Npros directory as Herbalife International.