Breaking News

Suicide Sinks Herbalife Stock

November 30, -0001

Top sales rep dies from gunshot wound.

Shares of Herbalife sank as much as 7% Monday morning amid reports the weight-loss and nutritional products company's top distributor died of an apparent suicide.
 

John Peterson, 58, reportedly earned $3 million last year as one of Herbalife's top salespeople. He was found dead last week of an apparently self-inflicted, single gunshot wound at his Steamboat Springs, Colo., residence, The New York Post said this weekend.
 

That would seem to conflict with a memo from CEO Michael Johnson last Monday that described the death as a "tragic accident."


Peterson, who earned the title of Herbalife's top distributor of the year 10 times, started his career with Herbalife with the help of an online lead-generation business called Work from Home Inc., the Post reported.


This isn't the first tragedy to impact Herbalife. In 2000, company founder Mark Hughes died of an overdose of alcohol and a toxic level of doxepin, an antidepressant.


Activist investor William Ackman late last year accused the lead-generation business of being a pyramid scheme, where an individual promises recruits who make payment that they will make money by recruiting others.


Herbalife denied accusations of pyramid scheming, but also changed some of its practices.


 

Related End-User Markets:

blog comments powered by Disqus
  • Why Look Good, When You Can Look Perfect?

    Why Look Good, When You Can Look Perfect?

    Tom Branna, Editorial Director||April 4, 2016
    A new way to try-before-you buy is capturing the attention of consumers and the beauty industry.

  • NYSCC Explores Product Innovation

    NYSCC Explores Product Innovation

    Christine Esposito, Associate Editor||March 14, 2016
    New product development, formulation expertise and proper preservation are topics of discussion at February monthly meeting.

  • Battling Pollution via Skin Care

    Battling Pollution via Skin Care

    Christine Esposito, Associate Editor||March 7, 2016
    Canadian start-up turns to crowdfunding to help launch a new anti-pollution moisturizer.

  • Who Makes That?

    Who Makes That?

    Tom Branna, Editorial Director||April 1, 2016
    From concept and formulation to testing and filling, today’s contract manufacturers perform a range of services for marketers

  • Multi-Cultural Beauty Update

    Multi-Cultural Beauty Update

    Christine Esposito, Associate Editor||April 1, 2016
    Established brands and start-ups address the needs of multi-cultural beauty consumers.

  • The Scalp Microbiome

    The Scalp Microbiome

    Nava Dayan PhD, Dr. Nava Dayan LLC||April 1, 2016
    A review of recent findings and innovative approaches for treating scalp disorders.