Aligns Organizational Structure to Drive Regional Operational Excellence and Enhance Regional Strategies Across both the Nature’s Sunshine Products and Synergy Worldwide Operations
Appoints Dan Norman as Executive Vice President and President of Asia/Pacific
Appoints Bryant Yates as Executive Vice President and President of Europe
LEHI, Utah, July 23, 2019 (GLOBE NEWSWIRE) -- Nature’s Sunshine Products, Inc. (NASDAQ: NATR), today announced the restructure of its global business units by creating four regional Operating Business Units (OBUs) to further align and target its regional strategies driving synergies in product, organizational and go-to-market capabilities across both the Nature’s Sunshine and Synergy brands. The new structure will build regional capabilities that can enhance focus on local consumer needs, with strong management support and targeted strategic direction. The leadership of each OBU will report directly to President and Chief Executive Officer Terrence Moorehead.
In conjunction with the new operating structure, the Company has realigned its executive leadership. Dan Norman has been appointed as Executive Vice President and President of Asia/Pacific (APAC) and Bryant Yates has been appointed Executive Vice President and President of Europe. Latin America (LATAM) will report directly to the President and Chief Executive Officer, until an OBU leader is appointed. These appointments follow the recent appointment of Eddie Silcock as Executive Vice President and President of North America.
“We are excited to announce this realignment of our global operations, which is designed to strengthen our regional operations, align market strategies and drive synergies throughout our business as we leverage product capabilities, local market knowledge and our sales strategies across both the NSP and Synergy businesses. Additionally, we expect to improve organizational efficiencies throughout our regional business functions,” said Terrence Moorehead, President and Chief Executive Officer. “We are confident these changes, along with our new leadership team will help invigorate our regions and propel our Company into the next phase of improved performance, positioning the Company to benefit from ongoing industry growth while building value for our shareholders. We are fortunate to have an experienced and deep team of professionals throughout our global operations to drive our strategic vision. The leadership team we have announced today, including both recent additions and proven executives from within our organization, brings decades of industry experience and the capabilities to drive our vision and strategies throughout the organization.”
Mr. Norman will continue to play a key leadership role in Synergy Worldwide’s global strategy as President, Synergy Worldwide, a position he has held since September 2007. He has proven strong leadership skills, an intense focus, and the aggressive approach that is needed to transform the Company’s largest business unit. Mr. Norman’s prior roles with the Company include Vice President of Operations and Vice President of Information Systems. Prior to joining Synergy, Mr. Norman served as a Senior Manager of European Operations at Tahitian Noni International from 1998 through September 2004.
Mr. Yates most recently served as President-Russia, Central and Eastern Europe & Wholesale. He brings 20 years of global experience and an in-depth understanding of the business. Prior to his current role, Mr. Yates served as Executive Director-International of Nature’s Sunshine, Director-International-Europe/Middle East and General Manager of Nature’s Sunshine Products of Russia, an affiliate of the Company. Mr. Yates has been employed by the Company since 1999.
Mr. Silcock joined the Company in April 2019 as Executive Vice President and President of North America. With over 20 years of sales and marketing experience from multiple businesses, Eddie brings a unique perspective that will be useful in addressing the challenges facing Nature’s Sunshine. Prior to joining the Company he served as Chief Sales Officer of Perfectly Posh and as Executive Vice President, Global Sales at Young Living Essential Oils. Mr. Silcock started his career at Avon Products Limited, holding several senior sales positions spanning over 22 years.
About Nature’s Sunshine Products
Nature’s Sunshine Products (NASDAQ: NATR), a leading natural health and wellness company, markets and distributes nutritional and personal care products in more than 40 countries. Nature’s Sunshine manufactures most of its products through its own state-of-the-art facilities to ensure its products continue to set the standard for the highest quality, safety and efficacy on the market today. Additional information about the Company can be obtained at its website, www.naturessunshine.com.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans, strategies and anticipated financial results. Forwarding-looking statements are often characterized by terminology such as “believe,” “hope,” “may,” “anticipate,” “should,” “intend,” “plan,” “will,” “expect,” “estimate,” “project,” “positioned,” “strategy” and similar expressions, and are based on assumptions and assessments made by management in light of their experience and their perception of historical trends, current conditions, expected future developments, currently available information and other factors they believe to be appropriate. Actual results could differ materially from those predicted in forward-looking statements. Risks and uncertainties that could cause actual results to differ materially from predicted results are detailed under the caption “Risk Factors” in our reports filed with the Securities and Exchange Commission, including our Annual Report on Form 10-K and Quarterly Reports filed on Form 10-Q. All forward-looking statements speak only as of the date of this press release and are expressly qualified in their entirety by the cautionary statements included in or incorporated by reference in this press release. Except as required by law, the Company disclaims any obligation to publicly release any revisions to forward-looking statements to reflect events after the date of this press release.
Contact:
Scott Van Winkle
ICR
scott.vanwinkle@icrinc.com
(617) 956-67362