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Mannatech appoints new CEO

This article was originally published in The Tan Sheet

Executive Summary

Wayne Badovinus is appointed president and CEO of the multilevel dietary supplements marketer. Badovinus' 43-year career in consumer brands includes senior management positions with Eddie Bauer, Williams-Sonoma and Nordstrom, Coppell, Texas-based Mannatech says June 6. He will take over executive duties from Terry Persinger, who will continue on the Mannatech board, the firm says. Mannatech co-founder and chairman Sam Caster resigned as CEO in August 2007 as the firm faced class-action claims that it had caused its stock to trade at inflated levels by failing to adequately monitor how its associates advertised its products (1"The Tan Sheet" Aug. 27, 2007, In Brief). The firm has agreed to pay $11.25 million to settle the allegations (2"The Tan Sheet" March 24, 2008, In Brief)...
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