Company to release Q1 results May 3
PROVO,
Utah, March 30, 2023 /PRNewswire/ -- Nu Skin
Enterprises, Inc. (NYSE: NUS) today announced the resignation of
its chief financial officer, Mark
Lawrence, effective March 31,
2023. After six years at the company, Lawrence has elected
to pursue an outside opportunity but will remain as a senior
advisor through April 2023 to support
a smooth transition. Additionally, the company is reiterating first
quarter and annual 2023 guidance provided on Feb. 15, 2023.
"On behalf of our board, management and the entire Nu Skin team,
we thank Mark for his leadership and significant contributions over
the past six years," said Ryan
Napierski, president and CEO. "He has been integral in our
transformation toward Nu Vision 2025, including the introduction of
our first connected beauty device system and expanding our
digital-first business model. Mark has been a tremendous leader and
has built a highly talented team of proven professionals to
accelerate our work moving forward. We wish him and his family well
in their future endeavors."
Nu Skin's board of directors has appointed James D. Thomas, senior vice president and chief
accounting officer, as interim CFO and has initiated a formal
process to identify a permanent replacement. Thomas joined Nu Skin
in 2010 and has served as chief accounting officer since 2019. He
has led several critical, global financial projects across multiple
disciplines over the years. Prior to Nu Skin, Thomas worked as an
assistant controller of another public, technology-enabled wellness
company and served in the assurance practice at
PricewaterhouseCoopers LLP. Thomas holds Bachelor of Science and
Master of Accounting degrees from Utah State
University.
The company will announce first-quarter results after the market
closes on Wednesday, May 3, 2023. The
management team will host a conference call with the investment
community later that same day at 5 p.m.
ET. The webcast of the conference call, including the
financial information presented, will be available on the investor
relations page of the company's website at ir.nuskin.com. A replay
of the webcast will be available at the same location through
Wednesday, May 17, 2023.
About Nu Skin Enterprises, Inc.
Nu Skin Enterprises,
Inc. (NYSE: NUS) is a global integrated beauty and wellness
company, powered by a dynamic affiliate opportunity platform. The
company helps people look, feel and live their best with products
that combine the best of science, technology and nature. Backed by
nearly 40 years of scientific research, Nu Skin develops
innovative products including Nu Skin® personal care, Pharmanex®
nutrition and the ageLOC® anti-aging brand which includes an
award-winning line of beauty device systems. Nu Skin operates in
nearly 50 markets worldwide in the Americas, Asia, Europe,
Africa and the Pacific. Rhyz Inc.
is the company's strategic investment arm that includes a
collection of technology and manufacturing companies to support
growth in the core Nu Skin business. Nu Skin is committed to
sustainability, including global initiatives such as transitioning
to reduced and sustainable packaging for all products by 2030. The
Nu Skin Force for Good Foundation also strives to improve
children's health, education and economic circumstances throughout
the world. For more information, visit nuskin.com.
Important Information Regarding Forward-Looking
Statements: This press release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that represent the
company's current expectations and beliefs. All statements other
than statements of historical fact are "forward-looking statements"
for purposes of federal and state securities laws and include, but
are not limited to, statements of management's expectations
regarding the company's revenue and earnings guidance for the first
quarter and the full year, as well as its future
performance.
The forward-looking statements and related assumptions
involve risks and uncertainties that could cause actual results and
outcomes to differ materially from any forward-looking statements
or views expressed herein. These risks and uncertainties include,
but are not limited to, the following:
- issues that could arise during the company's closing and
review/audit procedures, such as the need to make an adjustment to
the projected numbers;
- risk that epidemics, including COVID-19 and related
disruptions, and other crises could negatively impact our
business;
- adverse publicity related to the company's business,
products, industry or any legal actions or complaints by the
company's sales force or others;
- risk that direct selling laws and regulations in any of the
company's markets, including the United
States and Mainland China, may be modified, interpreted or
enforced in a manner that results in negative changes to the
company's business model or negatively impacts its revenue, sales
force or business, including through the interruption of sales
activities, loss of licenses, increased scrutiny of sales force
actions, imposition of fines, or any other adverse actions or
events;
- any failure of current or planned initiatives or products to
generate interest among the company's sales force and customers and
generate sponsoring and selling activities on a sustained
basis;
- political, legal, tax and regulatory uncertainties,
including trade policies, associated with operating in Mainland
China and other international markets;
- uncertainty regarding meeting restrictions and other
government scrutiny in Mainland China, as well as negative media
and consumer sentiment in Mainland China on our business operations
and results;
- risk of foreign-currency fluctuations and the currency
translation impact on the company's business associated with these
fluctuations;
- uncertainties regarding the future financial performance of
the businesses the company has acquired;
- risks related to accurately predicting, delivering or
maintaining sufficient quantities of products to support planned
initiatives or launch strategies, and increased risk of inventory
write-offs if the company over-forecasts demand for a product or
changes its planned initiatives or launch strategies;
- regulatory risks associated with the company's products,
which could require the company to modify its claims or inhibit its
ability to import or continue selling a product in a market if the
product is determined to be a medical device or if the company is
unable to register the product in a timely manner under applicable
regulatory requirements;
- unpredictable economic conditions and events
globally;
- the company's future tax-planning initiatives; any
prospective or retrospective increases in duties or tariffs on the
company's products imported into the company's markets outside of
the United States; and any adverse
results of tax audits or unfavorable changes to tax laws in the
company's various markets; and
- continued competitive pressures in the company's
markets.
The company's financial performance and the forward-looking
statements contained herein are further qualified by a detailed
discussion of associated risks set forth in the documents filed by
the company with the Securities and Exchange Commission. The
forward-looking statements set forth the company's beliefs as of
the date that such information was first provided, and the company
assumes no duty to update the forward-looking statements contained
in this release to reflect any change except as required by
law.
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SOURCE Nu Skin Enterprises