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USANA Health Names Kevin Guest CEO
November 24, 2016 -- USANA Health Sciences, Inc., a manufacturer of nutritional supplements, healthy foods and personal care products, announced Wednesday the appointment of current Co-CEO, Kevin Guest, as CEO of the company, as Dave Wentz has made the personal decision to step down as Co-CEO and a Board member.
The company said it will no longer utilize a Co-CEO management structure. The USANA Board of Directors now consists of six directors, four of whom are independent.
Guest has led USANA in a variety of roles for more than 20 years, including President and most recently as Co-CEO.
Wentz said, "I am grateful for my long tenure with USANA and am proud of what we have accomplished over the past 24 years. ...I am looking forward to spending more time with my family and continuing to advocate for the direct sales industry as Chairman of the Direct Selling Education Foundation."
Kevin Guest stated that as demonstrated by the Board's recent decision to split the stock, the company is confident that the strategies in place will help USANA achieve its long-term growth potential.
FTC Sends Checks to Former FHTM Representatives
November 8, 2016--The Federal Trade Commission announced it will mail checks totaling more than $3.7 million to provide partial refunds to almost 300,000 former independent representatives of Fortune HiTech Marketing (FHTM), which was sued and shut down by the FTC and Kentucky state regulators in 2013. FHTM settled the lawsuit and agreed to pay for the partial refunds. The FTC said it may have additional funds to distribute after the resolution of other lawsuits against FHTM's highest earning representatives.
FHTM and its top two executives were sued by the FTC and the attorneys general of Kentucky, North Carolina and Illinois for "unfair and deceptive actions" that violated state and federal laws. Among the charges: misrepresenting income potential and claiming average people could attain financial independence through FHTM.
About 90% of FHTM independent representatives earned less than $15 a year, but they were expected to spend about $1,500 a year on products and membership fees, former Kentucky attorney general Jack Conway said in 2013.
- FTC Bans FHTM from Multilevel Marketing
- Fortune HiTech Marketing Principals Issue Statement Denying Wrongdoing