Herbalife Nutrition Chairman And CEO Michael Johnson To Receive Salary Of $1

(RTTNews) - Nutrition company Herbalife Nutrition Ltd. (HLF) announced Tuesday that the company's long-time Chairman and CEO, Michael Johnson, will drop "interim" from his title, and agree to a salary of one dollar. Additionally, he will receive an equity-based long-term incentive plan in the form of Stock Appreciation Rights and Restricted Stock Units.

Johnson is an accomplished business leader with extensive experience expanding companies globally and spearheading successful business transformations. He served as CEO of Herbalife Nutrition from 2003 to 2017, Chairman from 2007 to early 2020, and CEO from 2019 to early 2020.

During Johnson's tenure as CEO of Herbalife Nutrition, the Company quadrupled sales and expanded its operations around the world from 58 to 95 markets.