Sales: $1.5 billion.
Key Personnel: Mary Young, co-founder and chief executive officer; Jared Turner, president and chief operating officer; Matthew French, general counsel and corporate compliance officer; R. Michael Buch, PhD, chief science officer; Kelly Case, chief of staff; Lauren Walker, chief supply chain officer; Ben Riley, chief sales officer; Lee Bowen, chief financial officer.
Major Products: Essential oils, home care products, personal care products, OTC products and color cosmetics.
New Products: YL Seedlings baby care, Savvy Minerals by Young Living color cosmetics and skin care; Valor roll-on essential oil.
Comments: There’s gold in essential oils. Company founder D. Gary Young discovered the therapeutic powers of essential oils more than two decades ago. Most recently, he discovered the power of line extensions, expanding the EO concept into beauty and home care.
In the 1980s, Young studied essential oils in France. When he returned to the US, he planted a field of lavender behind his office in Spokane, WA, from seeds he acquired while in France and started his farm in St. Maries, Idaho, in 1992. Two years later, he built two small distillers for his first extractions at the farm and then in 1994 built his first stainless steel stationary steam distillery. He formed Young Living Essential Oils in 1993 and incorporated it in 1994 in Utah.
Today, Young Living has 16 corporate and partner farms, over 3,000 employees, and well over 4 million customers.
Sadly, Young died on May 12, at 68, due to complications following a series of strokes. His wife and company co-founder Mary Young, along with Jared Turner, president and chief operating officer, will run the firm.
“Young Living will continue to honor Gary’s life’s work of sharing essential oils and their benefits with people around the world,” said Turner. “Over the years, he and I have had many discussions about his vision for the future of the company, and we are determined to follow the path that he set forward for Young Living.”