Herbalife  (HLF) - Get Report shares were down more than 5% Tuesday afternoon on reports out of China that President Li Yanliang, the head of the company's Chinese operations, was abruptly "removed" by the company after 10 years on the job. China accounts for about 20% of the company's business. 

CNBC reported that several executives liquidated their stakes in Herbalife between May 9 and May 15, including a senior vice president in China as well as several other senior executives. 

Herbalife shares have had a strong run this year, climbing 44% year to date. The stock is up nearly 15% over the past 12 months. 

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