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Increases Quarterly Cash Dividend to $0.10 per Share
Michael D. Dean to resign as CEO Gregory L. Probert, Executive Chairman, to become interim CEO
LEHI, Utah, March 6, 2013 (GLOBE NEWSWIRE) -- Nature's Sunshine Products, Inc. (Nasdaq:NATR), a leading natural health and wellness company engaged in the manufacture and direct selling of nutritional and personal care products, today reported its consolidated financial results for the fourth quarter and fiscal year ended December 31, 2012, and increased its quarterly cash dividend to $0.10 per share.
The Company also announced that Michael D. Dean has resigned as Chief Executive Officer and as a member of the Board of Directors, effective March 31, 2013. Gregory L. Probert, Executive Chairman of the Board, has been appointed to serve as interim Chief Executive Officer until such time as the Board of Directors names a new CEO. Mr. Dean will enter into a one-year consulting agreement with the Company, and work with Mr. Probert to ensure a smooth transition. Mr. Probert has worked with the Company in a consulting and executive capacity since September 2010. He is the former President and Chief Operating Officer of Herbalife International of America.
Mr.Dean said: "Now that the Company has made significant progress and is well positioned for future growth, this is an appropriate time for me to exit. I am pleased to leave the Company stronger than ever and in capable hands with an outstanding team and talented, loyal sales managers and independent distributors. I will miss working with every one of them."
Mr. Probert stated: "In 2010, when Michael was a Board member, the Board asked him to step in as CEO to stabilize the Company's business, return it to profitability, build a world-class management team and set a strategy for future growth. Michael has successfully accomplished all these goals. We thank him for all of his contributions and wish him all the best in his future endeavors. I am looking forward to working with the Company's outstanding senior management team, talented employees and our loyal distributors to implement an ambitious growth plan."