Nu Skin Enterprises Announces Changes To Its Board Of Directors And Regional Management Team
Nu Skin Enterprises Announces Changes To Its Board Of Directors And Regional Management Team
PROVO, Utah—Sept. 7, 2006—Nu Skin Enterprises, Inc. (NYSE: NUS) today reported
organizational changes to its board of directors and regional management team. Included in
the changes is the appointment of Steven J. Lund to the company's Board of Directors where
he will serve as vice chairman.
“Steve's extensive history with the company, as well as his thorough understanding of our business and corporate mission makes him an invaluable asset as we pursue our growth initiatives throughout the world,” said Blake Roney, chairman of the board. “We look forward to taking advantage of his knowledge of our business in this new leadership role.”
Lund previously served as president and chief executive officer of Nu Skin Enterprises from 1996 to 2003. He joined the company shortly after it was formed and has served in various executive positions since its inception in 1984. Lund most recently returned from a three-year assignment for his church.
Unrelated to Lund's appointment, Jose “Joe” Ferreira, Jr. is resigning from his position on the board to devote more time to Goode Partners, the private equity business he co-founded last year. Ferreira has served on the board since May 2003.
Nu Skin Enterprises
Sept. 7, 2006
Page 2
“We have appreciated Joe's service on our board. His extensive experience in consumer products and direct sales has been of great value to us over the last few years,” said Roney. “We thank him for his dedication to our company and wish him all the best.”
The company also announced that Corey Lindley, who has served as executive vice president and president of the Greater China region, has repatriated from China. Lindley will continue to serve as an executive vice president and will focus his activity on corporate strategic issues now that the China direct selling license has been secured and local management is prepared to assume responsibility for the continued development of the market.
“Each of the general managers and regional personnel within the Greater China region will report directly to Dan Chard, our executive vice president who oversees all of our geographic operations,” said Truman Hunt, president and chief executive officer. “This includes Frankie Kiow, who has served as president of our Mainland China operations for approximately eight years.”
Kiow joined the company in 1999 as president of Shanghai Nu Skin (now Nu Skin China), where he played an integral role in helping China become one of the company's leading markets.
As part of the management transition in China, Keynes Li will continue his role as regional vice president of regulatory affairs for Greater China and general manager of North China operations, based in Beijing. Li played a critical role in the company's successful effort to secure a direct selling license in China. He has been the head of the Nu Skin Enterprises Beijing Representative Office since 2000.
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in 43 countries throughout Asia, the Americas and Europe. The company markets premium quality personal care products under the Nu Skin® brand, science-based nutritional supplements under the Pharmanex® brand and technology products and services under the Big Planet® brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol “NUS.”
“Steve's extensive history with the company, as well as his thorough understanding of our business and corporate mission makes him an invaluable asset as we pursue our growth initiatives throughout the world,” said Blake Roney, chairman of the board. “We look forward to taking advantage of his knowledge of our business in this new leadership role.”
Lund previously served as president and chief executive officer of Nu Skin Enterprises from 1996 to 2003. He joined the company shortly after it was formed and has served in various executive positions since its inception in 1984. Lund most recently returned from a three-year assignment for his church.
Unrelated to Lund's appointment, Jose “Joe” Ferreira, Jr. is resigning from his position on the board to devote more time to Goode Partners, the private equity business he co-founded last year. Ferreira has served on the board since May 2003.
Nu Skin Enterprises
Sept. 7, 2006
Page 2
“We have appreciated Joe's service on our board. His extensive experience in consumer products and direct sales has been of great value to us over the last few years,” said Roney. “We thank him for his dedication to our company and wish him all the best.”
The company also announced that Corey Lindley, who has served as executive vice president and president of the Greater China region, has repatriated from China. Lindley will continue to serve as an executive vice president and will focus his activity on corporate strategic issues now that the China direct selling license has been secured and local management is prepared to assume responsibility for the continued development of the market.
“Each of the general managers and regional personnel within the Greater China region will report directly to Dan Chard, our executive vice president who oversees all of our geographic operations,” said Truman Hunt, president and chief executive officer. “This includes Frankie Kiow, who has served as president of our Mainland China operations for approximately eight years.”
Kiow joined the company in 1999 as president of Shanghai Nu Skin (now Nu Skin China), where he played an integral role in helping China become one of the company's leading markets.
As part of the management transition in China, Keynes Li will continue his role as regional vice president of regulatory affairs for Greater China and general manager of North China operations, based in Beijing. Li played a critical role in the company's successful effort to secure a direct selling license in China. He has been the head of the Nu Skin Enterprises Beijing Representative Office since 2000.
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in 43 countries throughout Asia, the Americas and Europe. The company markets premium quality personal care products under the Nu Skin® brand, science-based nutritional supplements under the Pharmanex® brand and technology products and services under the Big Planet® brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol “NUS.”