WINSTON-SALEM, N.C. — The chief executive of Herbalife Nutrition Ltd., Rich Goudis, resigned unexpectedly late Tuesday for reasons that the company said were related to its “expense policies and business practices.”
In a regulatory filing late Tuesday, Herbalife said Goudis, who was the primary face to its Winston-Salem operations, voluntarily resigned. He had been with the company since 2004 and as chief executive since June 2017.
Goudis took on the role in a high-profile promotion following the company reaching a $200 million settlement with the Federal Trade Commission about its operational and marketing practices in June 2016.
Michael Johnson, the company’s executive chairman, resumed his chief executive duties, effective immediately. Johnson served as chief executive from 2003 until Goudis’ promotion.
The company said Goudis’ resignation “is not due to any issues regarding the company’s financial reporting.”
Instead, the company said it “pertains to comments which recently came to light, made by Mr. Goudis prior to his role as chief executive, that are contrary to the company’s expense-related policies and business practices.”