LifeVantage is bringing in an interim chief financial officer as it seeks a candidate to fill the position.
Company officials said for the time being Gary Koos will take on the position formerly held by Mark Jaggi. Koos brings a wide range of experience to the role, which will include implementation of new processes across international markets. Last year, company accountants raised concerns about certain international sales policies and associated taxes and tariffs. A resulting independent audit identified gaps in internal processes, which the company has moved to correct. Pending the ongoing review LifeVantage delayed reporting for 2016 and the first quarter of fiscal 2017.
“In addition to his international financial expertise and leadership capabilities, Gary’s extensive operational skills and experience establishing enterprise-wide policies and controls will be vital as we continue to focus on creating value for our shareholders,” said Darren Jensen, LifeVantage President and CEO.
Koos hails from Comet Technologies USA, where he served as head of finance for the company’s Plasma Control Technologies division. His previous roles included president, CEO and CFO of Worldwide Energy and Manufacturing USA Inc., where he led a financial and operational restructuring for the publicly traded company. At LifeVantage, he steps in as interim CFO effective Thursday.