Youngevity International, Inc. announced changes to its Board of Directors.
The company stated that effective February 11, 2020, in order to maintain compliance with the corporate governance requirements of The Nasdaq Capital Market, and specifically Listing Rule 5605(b) which provides that a listed company’s board of directors shall be comprised of a majority of independent directors, Michelle Wallach and Richard Renton, two non-independent members of the Board of Directors of Youngevity International, Inc. (the “Company”), resigned as members of the Board of Directors of the company.
Steve Wallach, CEO of Youngevity International will continue as a board member and will remain the chairman of the Board and Dave Briskie, president and CFO of Youngevity will also remain on the Board of Directors.
“We very much appreciate the years of service of both Michelle Wallach and Richard Renton on the company’s Board of Directors,” said Briskie. “Michelle Wallach will remain an officer of the company and will continue to participate as a Board Member of the company’s Youngevity Be the Change Foundation and Richard Renton will continue to be a member of the company’s Sports Advisory Board as well as The Science Advisory Board.”
The notices of resignation provided by each director specifically stated that the resignations were not the result of any disagreement with the company on any matter related to the company’s operations, policies or practices and both Michelle Wallach and Richard Renton stated that “it was their honor to serve on the company’s Board of Directors for the past several years.