Herbalife
This article was originally published in The Tan Sheet
Executive Summary
Direct marketer names Francis Tirelli president/CEO, firm says Oct. 29, replacing Christopher Pair, who resigned Oct. 18 (1"The Tan Sheet" Oct. 22, In Brief). Tirelli, a former vice chairman and partner of Deloitte & Touche, has served on Herbalife's board since July 2000. Concurrent with his appointment, Tirelli created an Office of the Chief Executive, comprising himself, Exec VP-Sales & Distributor Relations Carol Hannah and Exec VP/COO Brian Kane. OCF will be "responsible for determining strategic direction, expanding sales and overseeing day-to-day operations," firm says...
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Herbalife
President/CEO Christopher Pair announces departure from supplement company as a result of "mutual agreement," effective Oct. 18. No successor has been named; an executive committee is running the firm until the board appoints a new leader. Company is negotiating severance terms with Pair, who has been with Herbalife since 1985 and will remain an executor of the Mark Hughes Family Trust. Although few details of his exit were released, investors previously have questioned Pair's business practices in light of the negative financial direction the firm has taken since founder Hughes' death in May 2000 (1"The Tan Sheet" July 30, p. 11)
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