Herbalife Announces Planned CFO Transition

LOS ANGELES--(BUSINESS WIRE)--Aug 5, 2026--

Herbalife Ltd. (NYSE: HLF) [“the Company”], a premier health and wellness company, community and platform, today announced the upcoming retirement of Chief Financial Officer (CFO) John DeSimone, effective December 31, 2026. As part of a planned leadership transition, Scott Schaefer, currently Senior Vice President of Finance and Transformation, will succeed Mr. DeSimone as the Company’s next CFO, effective January 1, 2027.

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Mr. DeSimone’s retirement follows nearly two decades of leadership and service to Herbalife, during which he played a central role in shaping the organization’s growth and driving impact through contributions made while in several leadership roles including President, CFO, and Chief Strategic Officer.

“For nearly 20 years, John has been a trusted advisor, partner and mentor across the organization, generously sharing his expertise and enabling Herbalife to grow and scale,” said Executive Chairman and Chairman of the Board, Michael O. Johnson. “John’s contributions and impact have been extensive – he leaves a lasting impact on the organization, and we thank him for his service and contributions.”

“I am grateful to John for both his partnership and his leadership – he has played an instrumental role in our transformation strategy, keeping us focused on financial discipline and strengthening our foundation so that we can accelerate and position the company for long-term success,” said Herbalife Chief Executive Officer, Stephan Gratziani. “As we look ahead, I am excited to work closely with Scott – a results-driven leader with deep financial and digital expertise who is uniquely equipped to support our next phase of growth.”

“When I returned to the CFO position in early 2024, my goals included strengthening the company’s balance sheet, solidifying its financial foundation and helping position the organization for long-term success,” said John DeSimone. “With those priorities well underway and a strong successor ready to lead the financial organization, I believe the end of this year is the right time to retire. It has been a privilege to serve Herbalife over the past 18 years, and I have great confidence in the company’s future.”

About Scott Schaefer

Scott Schaefer is a customer-obsessed strategic finance and business leader with a proven track record of delivering operational excellence, financial transparency, and long-term sustainable value.

Before joining Herbalife, Scott spent more than 16 years “delivering WOW” at the iconic footwear and apparel retailer Zappos.com, an Amazon subsidiary, where he advanced through multiple finance and operations roles, culminating in his tenure as President and CEO. In that role, he led an organization of more than 1,000 employees, refocused the business on a customer-relevant strategy, spearheaded a digital-first growth agenda that enhanced customer engagement, optimized operations, and delivered significant bottom-line improvements.

Prior to serving as CEO, Scott was CFO and Vice President of Finance at Zappos, where he co-led enterprise strategy, strengthened financial planning and analytics, and delivered board-level insights that accelerated decision-making and profitability. Additionally, he helped lead the company's largest acquisition — a sneaker and streetwear boutique that expanded its position in premium lifestyle footwear. Earlier in his career, he held finance roles at Ernst & Young and Davenport Wealth Solutions.

About Herbalife Ltd.

Herbalife (NYSE: HLF) is a premier health and wellness company, community and platform that has been changing people's lives with great nutrition products and a business opportunity for its independent distributors since 1980. The Company offers science-backed products to consumers in more than 90 markets through entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle to live their best life.

For more information, visit https://ir.herbalife.com.

Forward-Looking Statements

This 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. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws, including any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management, including for future operations, capital expenditures, or share repurchases; any statements concerning proposed new products, services, or developments; any statements regarding future economic conditions or performance; any statements of belief or expectation; and any statements of assumptions underlying any of the foregoing or other future events. Forward-looking statements may include, among others, the words “may,” “will,” “estimate,” “intend,” “continue,” “believe,” “expect,” “anticipate” or any other similar words.

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in or implied by our forward-looking statements include the following:

Additional factors and uncertainties that could cause actual results or outcomes to differ materially from our forward-looking statements are set forth in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on February 18, 2026, including under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” and in our Consolidated Financial Statements and the related Notes included therein. In addition, historical, current, and forward-looking sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future.

Forward-looking statements in this release speak only as of the date hereof. We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events, except as required by law.

Scott Schaefer

Tensions are rising in Lebanon, while U.S. President Donald Trump says a deal could be reached soon to reopen the Strait of Hormuz.

Here's a look at the latest developments in the Iran war and the wider Middle East on Wednesday. Full coverage can be found here.

For the first time in weeks, Israel's military told residents of an area of Lebanon to evacuate. The military said the warning for the village of Mansouri was in response to what it described as “a blatant violation of the ceasefire” by the Iran-backed Hezbollah militant group.

The military later said it was conducting “precise strikes” in southern Lebanon. Lebanon’s Health Ministry said one person was killed and 12 wounded in an Israeli strike in the town of Tebnine.

The escalation came as Lebanese and Israeli negotiators met in Rome for a second day to discuss implementation of a deal under which Israeli forces are supposed to withdraw from areas they occupy in southern Lebanon in exchange for Hezbollah's disarmament.

A State Department official, speaking on condition of anonymity to discuss the sensitive diplomacy, said the second day of talks ended early “due to events on the ground” but could continue on Thursday.

A shaky ceasefire between Israel and Hezbollah has largely held since June 20. The fighting erupted two days after the Iran war began when Hezbollah fired at Israel.

— Matthew Lee in Washington

Iran said Wednesday it's in the “final stage” of drafting an agreement with Oman over the Strait of Hormuz, and Trump said a deal could be announced this week. That could potentially reopen the critical waterway, ease pressure on the world economy and help bring an end to the war.

But the agreement is likely to be contingent on the United States lifting its blockade on Iran’s ports. The Trump administration has previously ruled out any deal that would cement Iran’s grip over the strait, which would amount to a major loss for the U.S. and a break with global norms.

Iran has insisted on some measure of control over the strait, saying it will not go back to being an open international waterway, as it was before the war.

The Iran-backed Houthi rebels in Yemen said they fired ballistic missiles at two Saudi oil tankers, one in the Red Sea and the other further east, in the Gulf of Aden. They did not provide evidence and there was no immediate comment from Saudi Arabia.

A vessel sailing off Yemen in the Gulf of Aden reported a loud explosion nearby, the British military’s United Kingdom Maritime Trade Operations center said, adding that the crew was safe.

In July, the Houthis announced a blockade of Saudi shipping, putting at risk another key world trade route running through the Bab el-Mandeb strait, which links the Red Sea with the Gulf of Aden.

Saudi Arabia has diverted millions of barrels of oil exports to the Red Sea since the Iran war choked off the Strait of Hormuz, on the other side of the Arabian Peninsula.

The U.S. has lifted sanctions on three Iran-linked companies. A Treasury official said it came after an appeal and was not indicative of any shift in U.S. policy toward the Islamic Republic. The official spoke on condition of anonymity to preview the sanctions.

One company is Fly Baghdad Airlines, sanctioned in January 2024 for allegedly providing assistance to Iran’s Revolutionary Guard and Iran-backed armed groups in Iraq, Syria and Lebanon. Sanctions also were lifted on Iraq Express and another Fly Baghdad-linked firm.

— Fatima Hussein in Washington

A Lebanese man reads a copy of the Quran inside a damaged house in the village of Zawtar al-Gharbieh, south Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)

A Lebanese man checks a destroyed house in the village of Zawtar al-Gharbieh, south Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)

Israeli military vehicles, left, are seen stationed among homes in the village of Zawtar al-Sharqiyah, occupied by Israeli forces, is seen from the southern village of Zawtar al-Gharbieh, Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)

A Lebanese man removes debris from his destroyed house in the village of Zawtar al-Gharbieh, south Lebanon, Wednesday, Aug. 5, 2026. (AP Photo/Mohammed Zaatari)

A Lebanese man points to Hebrew writing left by Israeli soldiers inside his destroyed home in the village of Zawtar al-Gharbieh, southern Lebanon, Wednesday, Aug. 5, 2026.(AP Photo/Mohammed Zaatari)