LOS ANGELES–(BUSINESS WIRE)–Frank X. Tirelli, CEO and President of Herbalife International Inc. (Nasdaq:HERBA – news; Nasdaq:HERBB – news) today announced the appointment of Douglas G. Sages as Executive Vice President, Chief Administrative Officer and Chief Financial Officer.
Mr. Sages, who will report directly to Mr. Tirelli, succeeds Timothy Gerrity as CFO. Concurrent with this announcement, Mr. Gerrity, who held the CFO position at Herbalife for the past 16 years, announced he is leaving the Company to explore entrepreneurial opportunities. The Chief Administrative Officer position is a new position at Herbalife, consolidating finance, technology and all other administrative functions of the Company.
“The wealth of in-depth knowledge of both technology and finance that Douglas Sages brings to Herbalife should be invaluable to Herbalife as we further solidify the company’s position as the best wellness and nutrition company in the marketplace,” Mr. Tirelli said. “I am delighted that he has accepted the position.”
Mr. Sages added, “Herbalife International has tremendous growth opportunities and I am very excited to be part of the management team that will realize the strategic initiatives developed by Frank Tirelli.”
Mr. Sages, who is a CPA and holds an MBA in Information Technology has senior management experience with consumer marketing, technology and Internet companies. In previous positions, he has achieved great success by combining his finance and operational expertise with Internet skills in e-commerce, e-marketing and digital distribution of content. Previous positions Mr. Sages has held include Executive Vice President and CFO for the World Wrestling Federation Entertainment Co., and Bla-Bla.com, an Internet aggregator.
Herbalife International, Inc. markets nutritional, weight management and personal care products in 53 countries worldwide. Herbalife products are available only through a network of independent distributors who purchase the products directly from the Company.