NEW YORK - Because the chief executive of Herbalife, Michael O. Johnson has weathered several prominent struggles, like a bruising battle with the hedge fund manager William A. Ackman plus a settlement with government regulators more than the nutritional supplement maker’s business practices.
Now Johnson is paving the method to step down as chief executive.
Herbalife said Tuesday that Johnson would step down from the chief executive part subsequent year right after 13 years. He will be succeeded by Richard P. Goudis, a longtime lieutenant who's the company’s chief operating officer.
In an interview, Johnson said the transition had extended been within the producing and was meant to bring in new leadership.