Herbalife’s China chief departs after a decade in the role
Its belived his abrupt departure came as a shock to staff and investors after the company posted solid figures from China for the first quarter.
The company recorded $215.6m in reported net sales in China, which was off slightly over the same period a year before, which was an exceptionally good one for Herbalife.
And its share price is nearing its best level for three years.
China accounts for around 20% of the firm’s business and it recently reached an agreement in principle to form a joint venture with Traditional Chinese Medicine (TCM) foutfit Tasly Holding Group.
The joint venture will, says Herbalife, develop and commercialise "high-quality consumer health products based on Tasly’s deep portfolio of proprietary formulations, patents, know-hows, and clinical studies".
Herbalife, would bring to table its scientific, regulatory and commercial know-how to boost the products on the global stage, it said. Its supplements and nutrition products are availble exclusively through direct selling in more than 90 countries.