Herbalife Ltd. announced that John DeSimone has been named Chief Financial Officer (CFO). DeSimone succeeds Alex Amezquita, who will remain with the company.

DeSimone has been an executive with Herbalife for 17 years, including serving as President and Co-President and most recently as Special Advisor to the CEO.

“John is a talented and proven finance leader, who has immense experience with Herbalife and a successful track record,” said Michael Johnson, Herbalife Chairman and Chief Executive Officer. “We believe with Stephan Gratziani as President driving top-line growth and John focusing on our commitment to expand margins, reduce debt and improve overall financial performance, we are well-positioned to return to growth and maximize shareholder value in both the near and long term.”