NU SKIN ENTERPRISES, INC. (NYSE:NUS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

ME Staff 8-k
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NU SKIN ENTERPRISES, INC. (NYSE:NUS) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b), (c)
On December 5, 2016, Truman Hunt, who has served as the Chief Executive Officer and President of Nu Skin Enterprises, Inc. (the “Company”) since 2003, notified the Company that he has accepted a three-year leadership assignment for The Church of Jesus Christ of Latter-day Saints and that he will therefore step down as Chief Executive Officer and President of the Company in mid-2017. Mr. Hunt also notified the Company that he will not stand for re-election to the Company’s Board of Directors at the Company’s 2017 Annual Meeting of Stockholders.
On December 6, 2016, the Company’s Board of Directors determined that Ritch Wood will become the Company’s Chief Executive Officer upon Mr. Hunt’s departure, and Ryan Napierski will become the Company’s President. Mr. Wood currently serves as the Company’s Chief Financial Officer, and Mr. Napierski currently serves as the Company’s President of Global Sales and Operations.
Ritch Wood, 50, has served as the Company’s Chief Financial Officer and a member of the Company’s executive management committee since November 2002. Mr. Wood joined the Company in 1993 and has served in various global leadership capacities. Prior to joining the Company, he worked for the accounting firm of Grant Thornton LLP. Mr. Wood earned bachelor’s and master’s degrees in accounting from Brigham Young University.
Ryan Napierski, 43, has served as President of Global Sales and Operations since September 2015. Prior to serving in this position, he served as President of the Company’s North Asia region from June 2014 and as President of Nu Skin Japan from 2010. Mr. Napierski joined Nu Skin in 1995 and has fulfilled multiple leadership positions with Nu Skin. Mr. Napierski has a bachelor’s degree in business, a master’s degree in business administration from Duke University and a master’s degree in international business from Goethe Universitat in Germany.
In connection with these appointments, it is anticipated that Messrs. Wood and Napierski will enter into employment agreements with the Company, the terms of which are not yet determined. Messrs. Wood and Napierski do not have family relationships with any of the Company’s other executive officers and directors. Other than as set forth herein, there are no arrangements or understandings between Messrs. Wood or Napierski and any other person to which they were selected for their positions.
During 2015 and 2016, the Company paid employment compensation in excess of $120,000 to one relative of Mr. Wood and one relative of Mr. Napierski. Ryan Wood, the brother of Mr. Wood, received approximately $156,369 in salary, bonuses and other compensation, and 800 restricted stock units during 2015. Cade Napierski, the brother of Mr. Napierski, received approximately $415,101 in salary, bonuses, expatriate benefits (including an education and housing allowance and other benefits) and other compensation, and 400 restricted stock units during 2015. In 2016, Ryan Wood and Cade Napierski have continued to receive compensation and were granted 1,500 restricted stock units and 700 restricted stock units, respectively. In addition, both Ryan Wood and Cade Napierski participate in the employee benefit plans available generally to our employees.


About NU SKIN ENTERPRISES, INC. (NYSE:NUS)

Nu Skin Enterprises, Inc. is a direct selling company that develops and distributes personal care products and nutritional supplements, and a range of other products and services. The Company offers anti-aging personal care products and nutritional supplements under its Nu Skin and Pharmanex brands. The Nu Skin brand offers a range of products, including ageLOC Spa systems, ageLOC Transformation anti-aging skin care system and ageLOC Tru Face Essence Ultra anti-aging skin care serum. The Pharmanex product line includes ageLOC TR90 weight management and body shaping system, and LifePak and ageLOC R2 nutritional supplements. The Company has operations in various geographic regions, including Greater China, North Asia, Americas, South Asia/Pacific, and Europe, the Middle East and Africa (EMEA). It is focused on offering ageLOC Youth nutritional supplement and ageLOC Me personalized skin care system. The Company also offers household products and technology services.

NU SKIN ENTERPRISES, INC. (NYSE:NUS) Recent Trading Information

NU SKIN ENTERPRISES, INC. (NYSE:NUS) closed its last trading session up +0.05 at 51.56 with 740,408 shares trading hands.