06 May 2008

Herbalife's Probert Steps Down After Faking Degree


Bloomberg.com
Herbalife Ltd., the maker of nutritional supplements accused of fraud by researchers last month, said Chief Operating Officer Gregory Probert resigned after faking an academic qualification on his resume.

Other employees have taken over Probert's duties, the company said today in a statement. Cayman Islands-based Herbalife also reported a higher-than-estimated 69 percent gain in first-quarter profit and raised its annual earnings forecast.

Herbalife joins a list of companies from RadioShack Corp. to InterContinental Hotels Group Plc that have severed ties with managers who lied about their resumes. Probert, who resigned yesterday, enrolled in the Masters of Business Administration program at California State University, Los Angeles, though he never obtained a degree, the company said last week.

1 Comments:

Blogger Karen said...

"Given the company's unwavering commitment to the highest standards in business ethics, the company had no other choice but to accept the resignation."

Yep, stuff happens but I know that in the end, Herbalife always follows a strict code of ethics. We are all sorry to see Greg go, he was definitely an asset to the company.

"Greg made substantial contributions to Herbalife," said Johnson. "The circumstances surrounding his resignation are disappointing but I am very pleased that Des Walsh has accepted an expanded role in the company."

But, given what we were told yesterday, the future is looking even brighter than before!

Karen Umstattd
Proud to be a member of Team Herbalife

5/07/2008 06:35:00 AM  

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