“We will build a health empire and turn the tri-leaf logo of Herbalife into a Mickey Mouse of Disney.”Said Gregory Probert, COO of Herbalife International about Herbalifes prospect to the reporter.
In 1980, young Mark Hughes founded Herbalife International and inspired by the traditional Chinese medicine and herbs, he developed with other scientists its first healthy weight-loss product-Protein Drink Mix. From that day on, a company that is committed to bringing health and nutrition to the humankind is kept on the rise.
In 2002, venture capital companies called J.H. Whitney & Co, and Golden Gate Capital Inc from San Francisco bought Herbalife with 685 million USD. Then, they invited two senior managerial members of Walt Disney-Michael O Johnson and Gregory Probert to join the company.
If you happen to know the two Disney elites, you will see them again in a skyscraper located in Century City of California. The difference is the company they work for has changed from “Mickey Mouse” to “Tri-Leaf”.
Johnson and Probert gradually improved the management structure of the company by building a dream team in real term. This team, led by CEO Johnson, former president of Disney International and a recognized long-term strategist and COO Gregory Probert consists of Chief Marketing Officer Matthew Wisk who greatly helped turn Nokia into a global brand, Randy Brogna, Vice President of Event Management and Communications who set new standards for the entertainment industry, Vice Chairman Henry Burdick who has 35 years of experience in the health industry working for Pharmavite, Crystal Geyser Water and Pharmanex, and Chief Strategy Office Paul Noack who has over 10 ten years with the Disney and is now responsible for operational and strategic plan making and for acquisition, merger and new business expansion issues.
“As a carrier of Mark抯 dream, our new management team has adopted a series of measures during the past years.” CEO Johnson holds that the company will be rebuilt based on the legacy left by Mark Hughes. The company specializing in weight management, nutritional supplement and personal care is emerging with great vitality under the leadership of Johnson and Probert. Herbalife was listed on the New York Stock Exchange in December 2004 and its shares skyrocketed from 14 USD to 30 USD per share within less than one year and now has reached the 40 USD mark.
As sophisticated business elites who have proved success in product development, distribution, finance and strategic planning, Johnson and Probert have made their endeavors to enhance the management over different markets of the company, which has helped the company scored remarkable accomplishments. In the third quarter of 2005, the company抯 net sales reached a record 401 million USD with profits being 27.1 million USD. In the first quarter of 2006, the company抯 net sales reached a record 455.8 million USD, and increase of 22.5% compared with the same period of 2005. Scott Van Winkle, president of Canaccord Adams, an investment bank in Boston said: “The companys management team turned the downside up over the past two years. But it was last year that they achieved considerable progress.”
“Like the Disney whose founder died 40 years ago but still live the dream of creating happiness, the dream of Herbalife抯 founder is still alive among us even though he had gone.” Probert was confident in building Herbalife into a health empire, “Our future is to become a great company like Disney where Michael and I used to work for, we want to become the largest nutrition and health company.” |
