Herbalife Nutrition Announces Changes in Board of Director Leadership Roles

Alan W. LeFevre Appointed as Lead Independent Director and Don Mulligan as Audit Committee Chair

Maria Otero Remains Chair of Compensation Committee

LOS ANGELES--(BUSINESS WIRE)--The Board of Directors of Herbalife Nutrition, a premier global nutrition company, has elected Alan W. LeFevre as lead independent director. Don Mulligan, Herbalife Nutrition board member and most recently Executive Vice President and Chief Financial Officer for General Mills, will serve as audit committee chair. Maria Otero, Herbalife Nutrition Board Member who had been serving as lead independent director on an interim basis, will continue to chair the compensation committee.

“We are extremely grateful to Maria Otero for wearing two hats as the lead independent director and chair of the compensation committee and look forward to her continued contributions to Herbalife Nutrition,” said John Agwunobi, Herbalife Nutrition Chairman and CEO. “Alan and Don bring extensive experience and knowledge in finance and consumer products to our Board, and we look forward to their guidance as we lay the foundation for Herbalife Nutrition’s next wave of growth.”

LeFevre, who is the former executive vice president of finance and chief financial officer for Jarden Corporation, has served on the Herbalife Nutrition Board since 2018, most recently as an audit committee chair. As a member of the Board of Directors, Mr. LeFevre lends significant financial and leadership experience to guide Herbalife Nutrition operate as a global nutrition products company.

Mulligan joined the Herbalife Nutrition Board in March 2021. In addition to financial expertise, Mulligan brings operational and technology experience from his 22-year tenure at General Mills.

About Herbalife Nutrition Ltd.

Herbalife Nutrition is a global company that has been changing people's lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers high-quality, science-backed products, sold in over 90 markets by entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company’s global campaign to eradicate hunger, Herbalife Nutrition is also committed to bringing nutrition and education to communities around the world.

For more information, please visit IAmHerbalifeNutrition.com.

Herbalife Nutrition also encourages investors to visit its investor relations website at ir.herbalife.com as financial and other information is updated and new information is posted.