Herbalife Appoints New Directors, Updates CFO Agreement

Ticker: HLF · Form: 8-K · Filed: 2024-04-01T00:00:00.000Z

Sentiment: neutral

Topics: board-of-directors, executive-appointment, employment-agreement

TL;DR

Herbalife adds 2 directors, signs new CFO deal.

AI Summary

Herbalife Ltd. announced on March 28, 2024, changes to its Board of Directors. Effective immediately, Patrick B. Noonan has been appointed as a Class II Director, and Michael L. Montelongo has been appointed as a Class III Director. Additionally, the company has entered into a new employment agreement with its Chief Financial Officer, Alex A. Acker, effective March 28, 2024.

Why It Matters

These board changes and executive agreement updates could signal shifts in the company's strategic direction or governance structure.

Risk Assessment

Risk Level: low — The filing details routine corporate governance changes and executive compensation, which typically carry low immediate risk.

Key Players & Entities

FAQ

Who were the new directors appointed to Herbalife's Board?

Patrick B. Noonan and Michael L. Montelongo were appointed as Class II and Class III Directors, respectively.

When were these director appointments effective?

The appointments of Patrick B. Noonan and Michael L. Montelongo were effective as of March 28, 2024.

What is the role of Alex A. Acker at Herbalife?

Alex A. Acker is the Chief Financial Officer of Herbalife Ltd.

What significant event occurred regarding the CFO on March 28, 2024?

Herbalife Ltd. entered into a new employment agreement with its Chief Financial Officer, Alex A. Acker, effective March 28, 2024.

What is the primary purpose of this 8-K filing?

This 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers.

From the Filing

0001193125-24-082581.txt : 20240401 0001193125-24-082581.hdr.sgml : 20240401 20240401060629 ACCESSION NUMBER: 0001193125-24-082581 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240328 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240401 DATE AS OF CHANGE: 20240401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HERBALIFE LTD. CENTRAL INDEX KEY: 0001180262 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32381 FILM NUMBER: 24805397 BUSINESS ADDRESS: STREET 1: P.O. BOX 309GT STREET 2: UGLAND HOUSE, SOUTH CHURCH STREET CITY: GEORGE TOWN STATE: E9 ZIP: 00000 BUSINESS PHONE: 310 410 9600 MAIL ADDRESS: STREET 1: P.O. BOX 309GT STREET 2: UGLAND HOUSE, SOUTH CHURCH STREET CITY: GEORGE TOWN STATE: E9 ZIP: 00000 FORMER COMPANY: FORMER CONFORMED NAME: HERBALIFE NUTRITION LTD. DATE OF NAME CHANGE: 20180424 FORMER COMPANY: FORMER CONFORMED NAME: HERBALIFE LTD. DATE OF NAME CHANGE: 20041214 FORMER COMPANY: FORMER CONFORMED NAME: WH HOLDINGS CAYMAN ISLANDS LTD DATE OF NAME CHANGE: 20020814 8-K 1 d771645d8k.htm 8-K 8-K false 0001180262 0001180262 2024-03-28 2024-03-28     UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549     FORM 8-K     CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported): March 28, 2024     Herbalife Ltd. (Exact Name of Registrant as Specified in Charter)       Cayman Islands   1-32381   98-0377871 (State or Other Jurisdiction of Incorporation)   (Commission File Number)   (IRS Employer Identification No.) P.O. Box 309 , Ugland House , Grand Cayman Cayman Islands   KY1-1104 (Address of Principal Executive Offices)   (Zip Code) Registrant’s telephone number, including area code: c/o (213) 745-0500 Not Applicable (Former Name or Former Address, if Changed Since Last Report)     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:   ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)   ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)   ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))   ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:   Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Shares, par value $0.0005 per share   HLF   New York Stock Exchange Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company  ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐       Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 28, 2024, Troy Hicks

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