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Mannatech

This article was originally published in The Tan Sheet

Executive Summary

Charles Fioretti to resign as chairman of multi-level supplement marketer upon finalization of negotiations, which are expected to be completed by early June. He is leaving to pursue "real estate and restaurant interests," company says; a replacement has not been designated. Coppell, Tex.-based Mannatech's first quarter revenues fell 13.9% to $34.2 mil. Company attributes decline primarily to competitive activity. Mannatech also recorded $850,000 net loss, but notes income from its North American operations remained flat
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