By Katherine Hamilton
Herbalife Chief Executive Michael Johnson is stepping down after his third term in the role.
Stephan Gratziani is set to succeed Johnson effective May 1, the health and wellness company said Wednesday.
Johnson first served as Herbalife's chief executive from 2003 to 2017. He returned to the role in 2019 after Richard Goudis resigned suddenly. John Agwunobi served in the role from early 2020 to 2022, at which point Johnson stepped in again as chief executive and chairman.
Johnson plans to transition to executive chairman of Herbalife.
Gratziani, 56 years old, was formerly an independent distributor for Herbalife, which is a multi-level marketing company. He became chief strategy officer in 2023 and has been serving as president since January 2024.
Herbalife plans to pay Gratziani an annual salary of $1.1 million. Johnson made a total compensation of $10.3 million in 2022 while serving as chief executive and chairman, according to a filing with the Securities and Exchange Commission. He is set to be paid about $741,000, plus equity incentives, as executive chairman.
Rob Levy, managing director of international markets, is set to take on the role of president of worldwide markets in May.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 19, 2025 17:16 ET (22:16 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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