17 November 2007

Caster Resigns as CEO of Mannatech

"The chief executive officer of dietary supplements maker Mannatech Inc. resigned, amid pressure on the company from shareholders and regulators who have accused it of using illegal sales tactics.

The resignation of Sam Caster, who helped found the Coppell, Texas, company in 1993, is effective immediately, Mannatech said, but added that Mr. Caster will remain chairman.

Mr. Caster resigned to focus on changing company marketing practices, said board member Larry A. Jobe. The company's marketing tactics have drawn complaints from shareholders and a Texas state attorney general's lawsuit. The company said in a statement that Mr. Caster will focus on working with field sales leaders. A company spokesman said Mr. Caster wasn't available for comment."

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