Photo: Truman Hunt, recipient of the DSN Bravo Leadership Award, addresses the crowd at the 2014 DSN Global 100 Celebration.
The man who has led Nu Skin Enterprises for nearly 14 years will step down in mid-2017, the beauty and wellness firm said Wednesday.
President and Chief Executive Officer Truman Hunt will depart Nu Skin next year to take on a three-year leadership assignment with The Church of Jesus Christ of Latter-day Saints. At that time, Chief Financial Officer Ritch Wood will transition to CEO and Ryan Napierski, currently President of Global Sales and Operations, will take on the role of president.
“My association with our remarkable sales leaders and fellow employees has been the highlight of my career,” Hunt said in the company’s announcement. “Together, we have been able to carry out the Nu Skin mission of being a force for good in the world.”
Hunt’s career with Nu Skin began in 1994, when as a young lawyer he was appointed counsel to the president. Later roles would include general counsel from 1996 to 2003 and executive vice president from 2001 to 2003. During his tenure as president and CEO, the Provo, Utah-based company has seen sales grow from $986.5 million in 2003 to a projected $2.2 billion in 2016.
In 2014, DSN recognized Hunt’s leadership and advocacy of Nu Skin, and of the direct sales channel as a whole, with its annual Bravo Leadership Award.
“Truman has established a tremendous legacy at Nu Skin that we will continue to build upon going forward,” said Steven J. Lund, Chairman of the Board. “Through his leadership and vision, Nu Skin has achieved extraordinary success and is extremely well positioned for the future.”
Lund also noted that Hunt’s successors have been integral to shaping the strategy that will guide Nu Skin into the future. “We are pleased to enjoy significant experience in our management team and are confident that Ritch and Ryan are well prepared to lead our next wave of growth,” said Lund.
The pair have more than four decades of combined experience with the company. Wood was promoted to finance chief in 2002, and in 2010 was recognized as CFO of the Year by Utah Business magazine. Napierski was named President of Global Sales and Operations in 2015, having spent the prior eight years leading key international markets for Nu Skin.