Nu Skin Shares Edge Lower; Names Ritch Wood as Next CEO

Nu Skin Enterprises shares were lower 1% in recent pre-market trade after the maker of beauty and wellness products said that CEO Truman Hunt has resigned to accept a leadership assignment for The Church of Jesus Christ of Latter-day Saints beginning in mid-2017.

The company has appointed CFO Ritch Wood to become the next CEO, and Ryan Napierski to become the next president upon Hunt’s departure. The company said it expects to name a new CFO prior to Wood’s assumption of CEO duties.
Napierski currently serves as president of global sales and operations. Separately, the company issued updated financial guidance for 2016 and 2017.

For Q4, the company expects earnings per share to be near the high end of its previously issued guidance of $0.77 to $0.81 earnings per share. The Street consensus calls for earnings of $0.79 per share.

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