Here's Why Shares of Herbalife are Lower in Wednesday's Trading Session

Shares of Herbalife (HLF) - Get Report were under pressure Wednesday following news that CEO Michael Johnson will be stepping down. COO Richard Goudis will succeed Johnson on June 1. Billionaire investor Carl Icahn issued a statement after the announcement, saying that he "fully support(s) the Board's choice of Goudis becoming CEO." The nutritional supplements company also posted mixed quarterly results after the bell Wednesday. Earnings of $1.12 a share were slightly above estimates. But, revenue of $1.12 billion for the period was slightly below expectations.

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