Herbalife Ltd. announced that Chief Executive Officer Stephan Gratziani will leave the company on Oct. 31, with Chief Financial Officer John DeSimone assuming the interim CEO role effective Nov. 1.
Gratziani, who joined Herbalife in August 2023 as Chief Strategy Officer under a two-and-a-half-year contract, will return to his independent distribution network, which comprises nearly 700,000 distributors and preferred members. The company markets nutrition products across more than 90 markets through its independent distributor network.
John DeSimone, who has served Herbalife for nearly 20 years in roles including President, Chief Strategy Officer and Special Advisor to the CEO, will lead the transition as interim CEO. The Board of Directors has formed a committee to oversee the succession process, the company stated.
Herbalife’s shares were up 0.65% in after-hours trading following the announcement. The company did not provide additional financial guidance or operational updates tied to the leadership change.
Executive Chairman Michael O. Johnson praised Gratziani’s contributions, stating that he delivered a vision for the Herbalife community and a path to leadership in health and wellness, alongside the personal business opportunity offered by the company.
