Nu Skin Enterprises Announces Regional Management Changes
New Regional Leadership Announced in Greater China and Southeast Asia
PROVO, Utah, May 22 /PRNewswire-FirstCall/ -- Nu Skin Enterprises, Inc. (NYSE: NUS) today announced the appointment of Andrew Fan as the new president of the Greater China region and Melisa Tantoco Quijano as president of the company's Southeast Asia region. In addition, the company announced management changes in mainland China and Taiwan.
Fan joined Nu Skin Enterprises in 1991 and has since participated in the successful development and opening of 12 Asian markets. In his prior position as president of Southeast Asia, he directly managed six Nu Skin Enterprises' markets -- Singapore, Malaysia, Thailand, the Philippines, Indonesia and Brunei. Fan most recently directed the opening of Nu Skin's Indonesia market. In his new role as president of the Greater China region, Fan will oversee sales and operations for mainland China, Taiwan, Hong Kong and Macau.
"Andrew is the ideal person to serve as president of Nu Skin Enterprises' Greater China region," said Truman Hunt, president and chief executive officer of Nu Skin Enterprises. "He is well suited to drive top-line growth at this important time when we are expanding the geographic scope of direct selling. During Andrew's 15-year tenure with the company, he has supported the successful development of Nu Skin Hong Kong, which has become one of our most established markets, and most recently, Andrew led a turnaround of our Southeast Asia region."
Fan graduated from the City University of Hong Kong in 1988, earning a bachelor's degree in business studies. He served as a member of the Board of Directors for the World Federation of Direct Selling Associations from 2000 to 2006; on the Executive Committee of the Hong Kong Direct Selling Association from 1997 to 2002, including two terms as president; and on the Executive and Membership Committees for the Direct Selling Association of Singapore in 2002.
In addition, Frankie Kiow has chosen to resign as president of Nu Skin China, allowing more time for him to focus on government service opportunities.
"We are pleased that Frankie will continue to work with Nu Skin Enterprises as an outside business advisor, providing important counsel on industry and government issues related to direct selling in mainland China," said Hunt. "Frankie has been a valuable leader of our mainland China team and was an integral part in helping the company become one of the earliest organizations to be granted a direct selling license in the market. We are pleased to be continuing our professional relationship with Frankie and wish him the best in his political endeavors."
Until a new market president is named, Fan will provide the strategic and operational direction for China in his new regional position.
Quijano will assume the position of president of the Southeast Asia region, bringing more than 25 years of sales and marketing experience to the role.
"Melisa has become a valuable leader in the Nu Skin Enterprises organization and brings a wealth of experience to her new position in Southeast Asia," said Dan Chard, executive vice president of distributor success for Nu Skin Enterprises. "I am confident Melisa will help the region continue its healthy growth trend, making it possible for Southeast Asia to be an even more meaningful player in the company's overall success."
Quijano most recently held the position of vice president of market services for the company's global distributor success organization. She has also served as regional director for Southeast Asia, general manager for Nu Skin Malaysia and Nu Skin Thailand, as well as regional marketing director. Prior to joining Nu Skin Enterprises, Quijano held management positions for the Asian operations of Tupperware, Sara Lee Direct Selling Asia and S.C. Johnson & Son, Inc. Quijano earned a bachelor's degree in business management from Ateneo Manila University in the Philippines where she was a University Scholar.
In addition, John Chou, who has successfully served as the president of Taiwan for the past 15 years, has been appointed to a new corporate vice president role in the company's distributor success organization. In this new position, Chou will support the development of global communications strategies for the company's key stakeholders. In the short term, Chou will also work with a soon-to-be-named new market president to ensure a seamless transition of responsibilities in Taiwan.
"We are fortunate that John will be extending his expertise and communications strategies to our global distributor success organization," said Chard. "During his tenure with the company, John has demonstrated a proven record of success, establishing Taiwan as a role model for our other markets -- especially in terms of developing successful public, industry and government programs and strategies. He will be an invaluable asset as we expand our communications strategies globally."
Chou has served as president and general manager of Nu Skin Taiwan since it opened in 1992, helping Taiwan become one of the company's largest and most profitable markets. Prior to joining Nu Skin Enterprises, he worked as president of Universal PR & Consultant Company, Ltd. from 1988 to 1992. He was also a sales and marketing manager at Amway Taiwan from 1984 to 1988 and served in the same capacity for 3M Taiwan, Ltd. from 1973 to 1984.
The Company
Nu Skin Enterprises, Inc. is a global direct selling company operating in 45 markets throughout Asia, the Americas and Europe. The company markets premium-quality personal care products under the Nu Skin(R) brand, science-based nutritional supplements under the Pharmanex(R) brand, and technology-based products and services under the Big Planet(R) brand. Nu Skin Enterprises is traded on the New York Stock Exchange under the symbol "NUS."
Please note: This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that represent the company's current expectations and beliefs, including strategic objectives and growth expectations in Greater China and Southeast Asia. The forward-looking statements and related assumptions involve risks and uncertainties that could cause actual results and outcomes to differ materially from any forward-looking statements or views expressed herein. These risks and uncertainties include, but are not limited to: (a) negative market conditions, foreign currency exchange fluctuations, material decreases in executive-level and active distributors, or the company's failure to execute effective initiatives in these markets; (b) continued regulatory scrutiny and investigations in Mainland China, which have from time to time in the past, and could in the future, negatively impact the company's business, including the interruption of sales activities in stores and the imposition of fines; (c) risks that the recently adopted direct selling regulations in China are interpreted or enforced by governmental authorities in a manner that negatively impacts the company's current or planned business model there, including continued delays and uncertainty in the provincial direct selling licensing process, and risk that the implementation of a direct selling model will not result in the anticipated growth of the company's business in China given the restrictive nature of the direct selling laws; (d) any failure of current or planned initiatives or products to generate interest among distributors and customers and generate sponsoring and selling activities on a sustained basis; and (e) continued competitive pressures. The company's financial performance and the forward-looking statements contained herein are further qualified by a detailed discussion of associated risks set forth in the documents filed by the company with the Securities and Exchange Commission, including the company's Annual Report on Form 10-K filed on March 1, 2007. The forward-looking statements set forth the company's beliefs as of the date of this release, and the company assumes no duty to update the forward-looking statements contained in this release to reflect any change.
SOURCE Nu Skin Enterprises, Inc.
05/22/2007
CONTACT: Investors, Scott Pond, +1-801-345-2657, spond@nuskin.com, or
Media, Kara Schneck, +1-801-345-2116, kschneck@nuskin.com, both of Nu Skin
Enterprises, Inc.