Herbalife Nutrition Ltd. Chief Executive Officer Michael O. Johnson has agreed to a salary of one dollar and will drop “interim” from his title. In addition to this, Johnson will receive an equity-based long-term incentive plan in the form of Stock Appreciation Rights and Restricted Stock Units and a $250,000 signing bonus.
Formerly, Johnson was CEO for the company from 2003-2017, Chairman from 2007-2020, and CEO again from 2019-2020. Under his leadership, Herbalife quadrupled its sales and expanded operations from 58 to 95 markets.
“We’re thrilled to know that Michael will leverage his deep understanding of the company, our products, our independent distributors and their customers as he guides the company through its digital transformation and growth,” said Alan W. LeFevre, Lead Director of the Herbalife Nutrition Board of Directors.