07.01.16
Los Angeles, CA
310.410.9600
www.herbalife.com
Sales: $135 million for personal care products. Corporate sales: $4.4 billion.
Key Personnel: Michael O. Johnson, chairman and chief executive officer; Desmond Walsh, president; John G DeSimone, chief financial officer; Richard P. Goudis, chief operating officer; Mark Friedman, executive vice president, general counsel and secretary.
Major Products: Personal care products that fall under the brand names such as Skin Activator, SKIN and Herbal Aloe.
Comments: Herbalife remains in a fight for its life with activist investor Bill Ackman. But Bully Bill doesn’t seem to be winning this fight.
Ackman, the CEO of hedge fund Pershing Square, placed a $1 billion short position against Herbalife in December 2012. And despite three years of crusading against Herbalife’s central distribution model—which he has equated to a “pyramid scheme”—Herbalife shares have doubled.
Just last month fellow big-time investor Carl Icahn insisted that Ackman made a big mistake.
“Ackman is a smart guy and all but he’s just dead wrong,” Icahn told the folks on CNBC’s Squawkbox. “This company creates work for a lot of people and to say that it doesn’t is ridiculous.”
Still, the battle has given Herbalife a black eye as sales dropped nearly 10% last year.
Things may be turning around though in 2016, as corporate sales rose 1%, which was ahead of initial guidance.
310.410.9600
www.herbalife.com
Sales: $135 million for personal care products. Corporate sales: $4.4 billion.
Key Personnel: Michael O. Johnson, chairman and chief executive officer; Desmond Walsh, president; John G DeSimone, chief financial officer; Richard P. Goudis, chief operating officer; Mark Friedman, executive vice president, general counsel and secretary.
Major Products: Personal care products that fall under the brand names such as Skin Activator, SKIN and Herbal Aloe.
Comments: Herbalife remains in a fight for its life with activist investor Bill Ackman. But Bully Bill doesn’t seem to be winning this fight.
Ackman, the CEO of hedge fund Pershing Square, placed a $1 billion short position against Herbalife in December 2012. And despite three years of crusading against Herbalife’s central distribution model—which he has equated to a “pyramid scheme”—Herbalife shares have doubled.
Just last month fellow big-time investor Carl Icahn insisted that Ackman made a big mistake.
“Ackman is a smart guy and all but he’s just dead wrong,” Icahn told the folks on CNBC’s Squawkbox. “This company creates work for a lot of people and to say that it doesn’t is ridiculous.”
Still, the battle has given Herbalife a black eye as sales dropped nearly 10% last year.
Things may be turning around though in 2016, as corporate sales rose 1%, which was ahead of initial guidance.
